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Kylie Jenner may have just sold 51% of Kylie Cosmetics to beauty conglomerate Coty, but that doesn’t mean that the 22-year-old billionaire is taking a step back from her beauty empire.
Au contraire, momager Kris Jenner is confident that the decision to sell a majority stake of the business is a move that will only make Kylie Cosmetics stronger. A “global powerhouse” to use her exact words…
“Yesterday was a really big day for Kylie and our team at Kylie Cosmetics. It was truly a moment for our family to be proud,” Kris Jenner said in an interview with CNBC’s Squawk Box.
“It’s kind of a crystallization of all our work. It’s also a moment to just look forward and be really excited about the future.
“I think the goal is to just keep building Kylie’s existing beauty business into a global powerhouse brand. That’s the vision.
“We decided to partner with Coty because they share the same vision as we do in building this into a huge thing. We dream big and this is something we’re so excited about.”
It looks like Kylie Cosmetics is in very competent hands, as Coty also owns the likes of GHD, OPI, Covergirl, and Rimmel London, among many others.
We’re excited to see what Coty will bring to the table; as is Kylie Jenner!
If we are to believe what Kris Jenner said, Kylie has barely “scratched the surface” in terms of what Kylie Cosmetics has to offer…
“This is her baby and this is her dream, to build this beauty empire and just go into many categories that she hasn’t even scratched the surface,” Kris Jenner added.
“She looks forward to working with Coty to develop more categories and going into other areas of the beauty business.”
Is this a smart business move? We think so!