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Kylie Jenner is selling a $600 million stake of her cosmetics business to Coty Inc.

Nov 19 2019

Kylie Jenner is selling a $600 million stake of her cosmetics business to Coty Inc. The global beauty company, who owns brands like CoverGirl and Max Factor, and has suffered from weak sales and hopes the acquisition will revive their skincare and online business. Kylie Cosmetics is on track to $200 million in sales this year and YPulse’s ongoing youth brand tracker shows that celebrity beauty brands have been stealing attention, and sales, from traditional brands. Independent brands’ sales grew 24% in 2017, so it’s no surprise that big companies struggling with young consumers are buying the competition. (WSJ)