Celebrity businesswoman Kylie Jenner (22) will sell a 51% stake in her cosmetics company to the Coty company for $ 600 million (Rs 4320 crore). Coty is a New York cosmetics firm, has several international beauty brands such as Covergirl. Coty made the deal, valuing Jenner’s company Kylie Cosmetics for $ 1.2 billion.
Coty will also try to capitalize on the fan following of reality TV star Jenner through this agreement to attract the youth. Jenner has 270 million followers on social media. On the deal with Coty, Jenner said- This partnership will help me and my team to focus on the creation and development of every product.