Billionaire Kylie Jenner To Sell Majority Stake Of Kylie Cosmetics Empire

November 18, 2019
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There are some major changes coming to Kylie Cosmetics!

According to Forbes, cosmetic and fragance company Coty Inc. -- which owns brands like Sally Hansen, Covergirl, Rimmel, Clairol, and more -- has announced that it will be purchasing 51% of Kylie Cosmetics. This $600 million purchase also includes Kylie's newest skincare line. 

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Not to long ago it made countless healdines that Kyle was the world's youngest self-made billionaire and this purchase confirms the value of the company is in the billions. Forbes reports that this deal will be finalized towards the end of 2020. 

Although she is selling a chunk of her empire, Kylie will remain as the "creative lead for product development and marketing initiatives." After all, her social media is what helps her products to constantly sell out.

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