Kylie Jenner Sells $816 Million Stake In Kylie Cosmetics To Coty And We Feel Poor

kylie-cosmetics-coty

Kylie Jenner is 22 years old. She started a beauty company in 2015 when she was just a teenager. The company is now worth around US$1.2 billion ($1.63 billion), according to a recent deal she made with Coty Inc, one of the biggest beauty companies in the world.

Coty Inc has agreed to pay US$600 million (US$816 million) for a majority stake in the company—in cash.

That’s not to say Kylie will be totally hands-off now. She will still lead creative efforts and communications for the brand, while the company will have overall responsibility for the brand, which we take to mean business matters.

 

View this post on Instagram

 

A post shared by Kylie Cosmetics (@kyliecosmetics) on

Although the Kylie brand stemmed from her involvement in reality TV show Keeping Up With The Kardashians that she appears in with her fam, her business acumen and creativity when it comes to building Kylie Cosmetics is 10/10.

Also read: 6 Things To Do If You Want To Become A Millionaire Before 35

The brand started out as Kylie Lip Kits, boasting only a few lip products that were instantly sold out whenever it was launched. A year later, she renamed it to Kylie Cosmetics and started expanding the brand’s portfolio to include eyeshadow palettes, primer and more. Recently, she launched her skincare line.

 

View this post on Instagram

 

A post shared by Kylie Cosmetics (@kyliecosmetics) on

Last year, she was named the world’s youngest self-made billionaire and at that time, Kylie Cosmetics was valued at US$800 million ($1.09 billion).

But we’re guessing part of her wealth comes from applying for copyrights to phrases, like she did with “rise and shine”.

Want to follow in Kylie’s footsteps and start your own business? Here are five things to know before starting your own business. If you’re starting out small, register your home business first.

Or, read this story of a 27-year-old who saved $100,000 in three-and-a-half years to find out how she did it.

Who knows, you might get a step closer to Kylie status. As Justin Bieber once said (or sang), never say never.

Loading...

Latest in Entertain Me