By Grace Bowden2019-11-22T17:24:00
Global beauty company Coty acquired a 51% stake in celebrity superstar Kylie Jenner’s cosmetics company for a cool $600m this week.
It is a seismic deal for the beauty house and one that values Kylie Cosmetics at $1.2bn.
Kylie Cosmetics was founded in 2015 when Jenner, now 22, was still a teenager. It made waves with its perennially sold-out Kylie Lip Kits, inspired by the founder’s own pout.
Since then, the brand has had a stratospheric rise. It has expanded into other makeup categories as well as fragrance and most recently skincare, all of which cumulatively delivered $177m in sales over the last 12 months.
It is a brand built on social media and the 270 million followers (more than 170 million on Instagram alone) across both the brand and Jenner’s personal accounts ensures ranges continue to sell out.
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