Kylie Jenner Cashes In, Sells Off Majority Control Of Kylie Cosmetics

Kylie Jenner is selling the majority of her $1.2 billion cosmetics and skincare company to giant makeup conglomerate COTY. Though she will be losing majority control over the company by selling 51% of it, Coty will still keep Kylie on as a consultant.

According to Forbes, Kylies come up with the skincare company is pretty epic, check out this timeline:

  • Jenner, who started out peddling $29 lip kits in 2015, sold an estimated $360 million worth of Kylie Cosmetics in 2018.

  • In November 2018, Jenner launched a distribution deal with beauty retailer Ulta and sold an estimated $55 million of product in just 6 weeks.

  • In May 2019 she announced the launch of her vegan Kylie Skin line. She recently filed a trademark for a possible baby line.

  • Thanks to its super low overhead and massive sales, the company is worth at least $900 million. Jenner owns a 100% stake.

  • Jenner used $250,000 of her earnings from modeling gigs to pay an outside company to produce her first 15,000 lip kits.

Congrats to Kylie on getting to the bag and bossing up yet again at the age of 22-years-old!

 
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