Kylie Jenner Self Made Billionaire To Sell Stake In Cosmetics Company For $600 Million
By Staff Writer, écoute moi
Kylie Jenner is the younger sister of world famous Kim Kardashian who is married to rapper Kanye West and are a power couple in the USA.
Colossal business Coty currently possessing household brands such as Burberry & Hugo Boss is set to take over a major part of Kylie Jenner’s beauty firms Kylie Cosmetics and Kylie Skin. The company is set to take ownership of around 51% of the business with the full deal aimed to be completed by next year. Kylie aged 22 as built a major beauty brand through the effective use of social media.
Kylie Set To Dominate The Cosmetics Industry
Kylie stated she will develop her business into “a global beauty cosmetics powerhouse”. Major media outlets previously reported that Kylie had made sales of $360 million only last year. Kylie took the title of the youngest self made billionaire in history.
A member of Coty’s leadership team stated “Kylie is a contemporary genius who has carved out a strong brand within the cosmetics industry and she has a strong understanding of the market and her clientele”.
After taking to Twitter and tweeting that she has stopped using Snapchat the company lost £1 billion off its stock market value. Kylie Jenner has fast become one of the world’s most recognised and powerful influencers.
She set up her lip stick company only four years ago. After the initial success of her products she also enhanced her product offerings to include skin care and make up itinerary. Kylie may well be the youngest daughter in the Kardashian tribe but she is the most affluent and highest earning member of the family.
The TV reality star has made progressive use of a variety of social media platforms such as the Facebook owned Instagram. She has more than 150 million followers and an addition 22 million on another account.