Reality star Kylie Jenner has sold 51% of her stake in Kylie Cosmetics.
Jenner and Coty made a joint announcement regarding the news on Monday, according to a report published by USA Today. The deal valued Jenner’s beauty company at $1.2 billion.
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“I’m excited to partner with Coty to continue to reach even more fans of Kylie Cosmetics and Kylie Skin around the world,” Jenner said in her statement. “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...