Kris Jenner Explains Kylie Cosmetics Sale and Clarifies That Kylie Will Still Be Heavily Involved
Big news in the Kardashian-Jenner business world! As announced yesterday, Kylie Jenner sold 51 percent of Kylie Cosmetics to Coty in a $600 million deal. Yup, not exactly your everyday impulse purchase, but as we all could guess—the youngest self-made billionaire and her empire are worth it.
According to Us Weekly, momager Kris Jenner provided some answers to questions most fans probably have on CNBC's Squawk Box, explaining what this means for Kylie moving forward. “This is her baby and this is her dream,” Kris stated. “She hasn’t even scratched the surface. She feels like this is where she belongs. This is where her passion is and she really wants to use her creative side to develop her brand. This is what she wants to do for the rest of her life. She talks about it all the time.”
Kris even said that Kylie dreams of passing Kylie Cosmetics onto her daughter, Stormi, so it's obvious that she'll want to maintain her heavy involvement in her company.
In a press release yesterday, Kylie said of the sale:
“I look forward to continuing the creativity and ingenuity for each collection that consumers have come to expect and engaging with my fans across social media. This partnership will allow me and my team to stay focused on the creation and development of each product while building the brand into an international beauty powerhouse.”
She also took to Twitter to announce the exciting news.
I can’t wait for all of the amazing things to come for @kylieskin and @kyliecosmetics! I’m excited to partner with @cotyinc to continue to expand my brands globally.. This is only the beginning!
— Kylie Jenner (@KylieJenner) November 18, 2019
Both Coty and Kylie are optimistic that they will become a powerful force together, thanks to Coty's experience and Kylie's massive fanbase and creativity. Go Ky!