Kylie Jenner Sells
Majority Stake in
Cosmetic Company.
The entrepreneur will sell 51% of her stake for
$600 million to COTY, a cosmetics company
that owns several international beauty brands.
The move comes as Jenner hopes to
expand her cosmetics brand globally.
"This partnership will allow me and my team to stay focused on ... each product while building the brand into an international beauty powerhouse."
- Kylie Jenner, via press release.
Jenner will stay on as a creative leader, with her team
maintaining control of communication efforts.
The deal is expected to be finalized
in the third quarter of 2020