Kylie Jenner just made a deal that will make her 600 Million dollars in one transaction!
The world’s youngest “self-made” billionaire, Kylie Jenner just got richer. Kyle just sole majority stake in her Kylie Cosmetics company that will net the reality tv start a cool $600 million. Coty Inc announced they will be purchasing 51 percent ownership from the youngest Jenner sister.
Kyle made headlines earlier this year when Forbes declared her the youngest “self-made” billionaire in the world. Many felt the term “self-made” didn’t exactly fit the mogul due to her family’s fame. Also because she has a role in the popular reality tv show following the Kardashian crew.
However, at just 21 years old Kylie reached Billionaire status thanks to her popular cosmetics line.
Kylie Cosmetics is valued to be worth 1.2 billion at the time of this deal. In this partnership with Coty inc Jenner will retain creative control of the company and still rely on her social media presence to grow the brand.
Coty Inc is behind other beauty brands such as Covergirl and OPI. Coty will use its experience to grow Kylie Cosmetics into a globally recognized brand while also helping to introduce new beauty categories. The deal isn’t set to be completed until September 2020.
Jenner issued a statement that she is excited about the partnership and looking forward to growing her brand internationally. Kylie is apart of the new generation of people who are famous for being famous. The entire Kardashian crew relies less on skill than it does on gossip. Besides Kendall Jenner, none of the other Kardashian crew is famous for anything else besides being on the show.
No hate on anyone in the family because they take advantage of the nature of society. However, let’s not forget Kanye West’s wife is ” a superstar all from a home movie”.
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