From her never-ending makeup swatches on Instagram stories to her excessive “rise and shine” merchandise, Kylie Jenner has never missed a paycheck in her life. She has dominated the beauty industry since the launch of her cosmetics company, Kylie Cosmetics in 2015. At an estimated worth of $1.2 billion, the company is most significantly responsible for Jenner being named the youngest self-made billionaire by Forbes magazine. At just 22 years old, she has acquired not only more wealth than any of her older Kardashian-Jenner sisters but also more wealth than most people have the capacity to even comprehend. What exactly do the rich do with their exorbitant amount of money and time? I’ll save you a Google search. They go out and become richer.
On November 18th, it was revealed that the entrepreneur has decided to sell a majority stake in her company for $600 million. The buyer that will hold 51 percent in the brand is makeup and fragrance supergiant, Coty which own brands including Rimmel, Sally Hansen, and Guess. As Jenner put it, this shift will transform her brand into an “international beauty powerhouse.” The deal is believed to be complete in 2020 with Jenner maintaining 49 percent stake in Kylie Cosmetics as well as continuing her role as creative lead on both product development and marketing initiatives. This makes sense. With Jenner’s whopping 270 million followers across social media, what company wouldn’t want her promoting product launches?
Even so, Jenner’s motives in selling her company in the first place are peculiar. It’s not very “Kardashian-Jenner” to give an outsider authority over business ventures…or so we thought. In actuality, this deal may result in Jenner making even more money from Kylie Cosmetics in the long run. At (again) an estimated net worth of $1.2 billion (yes, billion), there’s not much else that Jenner can do independently to grow the business.
According to Isa Lavahun, digital brand manager at beauty comparison website Cosmetify, “[Jenner’s] current international reach is limited and global expansion seems like the smartest next move to make – enter Coty.” The deal has the potential to be a game changer for international fans who do not have easy access to Kylie Cosmetics. Lavahun continues, “…Coty can bring in their resources, suppliers, and contacts to build the business globally, turning it into the next L’Oréal or Estee Lauder.”
Kylie Cosmetics is not slowing down and neither is Kylie Jenner. With success in beauty, skin, and fashion, what could be next for the young entrepreneur? Oh yes, world domination.