Kylie Jenner Is in Talks to Sell Kylie Cosmetics, According to a New Report
Say whatever you want about Kylie Jenner, but there’s no denying her business acumen. Since launching her beauty brand with a small collection of “lip kits” back in 2015, she’s built a sprawling empire and dethroned Facebook founder Mark Zuckerburg as the youngest “self-made billionaire.” And now, if reports are accurate, she might be on her way to becoming a lot richer.
According to a “well-placed” Women’s Wear Daily source, Jenner has been in talks about selling her famous Kylie Cosmetics brand.
Coty Inc. reportedly wants to buy Kylie Cosmetics
In case you aren’t aware, Coty Inc. is a pretty big deal. The company owns some of the biggest brands in the world, including CoverGirl, Rimmel London, OPI, and Sally Hansen.
Coty reportedly wants to buy more than half of Jenner’s business for $600 million dollars. Oh, and get this: Jenner would get to keep 49% of her brand, meaning she’ll continue to make profits off her famous business.
As of writing, neither Jenner or Coty have commented on the reports. But if they’re true, kudos to her.
Kylie Jenner has reportedly considered selling Kylie Cosmetics before
So, this isn’t the first time this kind of news has surfaced. WWD previously reported that Jenner had been meeting with a bunch of companies in regards to selling her beauty brand.
Perhaps she had a last minute change of heart or just wasn’t satisfied with the offers, because she reportedly never took any of the companies up on their offers.
Kylie Cosmetics is wildly successful
Over the years, Jenner has expanded the company to include eyeshadow, bronzer, blush, and more — and it’s paying off. Forbes estimates that Jenner’s company is worth $900 million. In 2019, the magazine labeled the 21-year-old the youngest “self-made billionaire” because of it.
“I didn’t expect anything. I did not foresee the future,” Jenner told Forbes. “But [the recognition] feels really good. That’s a nice pat on the back.”
Kylie Jenner has faced backlash over that recognition, though
People took issue with the “self-made” title. Critics argued that it is unfair given Jenner is a member of one of the world’s most famous families.
In response, Jenner told Interview, “There’s really no other word to use other than ‘self-made,’ because that is the truth.” She added, “That is the category that I fall under.”
While she admitted to having a “huge platform and lots of fans” prior to starting Kylie Cosmetics, she claimed that she had been totally independent after turning 16. “I used 100 percent of my own money to start the company, not a dime in my bank account is inherited … and I am very proud of that,” she continued.
Kylie Jenner has a new line of products
In May 2019, Jenner’s beauty empire expanded to skin. That month, the reality star released Kylie Skin, a luxury line of skincare products. As you can imagine, the brand has seen overwhelming success. However, it’s also faced some criticism over its “harsh” walnut face scrub and hefty price tag.
It’s unclear whether the controversy has anything to do with Jenner’s reported decision to sell her business, but maybe we’ll hear something soon.