Kris Jenner On Kylie Jenner Selling Majority Stake Of Kylie Cosmetics For $600 Million: She Hasn’t Even Scratched The Surface!
Kris Jenner, who doubles as the CEO of Jenner Communications said during an interview,
“Yesterday was a really big day for Kylie and our team at Kylie Cosmetics. [It was] truly a moment for our family to be proud. It’s kind of a crystallization of all our work.”
She added that Kylie Jenner, 22, is happy to be teaming up with Coty, the brand behind companies like CoverGirl and OPI.
“It’s also a moment to just look forward and be really excited about the future. I think the goal is to just keep building Kylie’s existing beauty business into a global powerhouse brand. That’s the vision.
We decided to partner with Coty because they share the same vision as we do in building this into a huge thing. We dream big and this is something we’re so excited about.”
While she sold the majority stake, Kris Jenner said Kylie Jenner will still be very much involved with Kylie Cosmetics.
“This is her baby and this is her dream, to build this beauty empire and just go into many categories that she hasn’t even scratched the surface. She looks forward to working with Coty to develop more categories and going into other areas of the beauty business.”
And fortunately for Kylie fans, she plans on doing this for decades to come. Kris said,
“She feels like this is where she belongs. This is where her passion is and she wants to really — wants to use her creative side to develop her brand. And this is what she wants to do for the rest of her life. [Kylie] talks about it all the time. Twenty years from now she sees herself doing this and maybe passing it down to her daughter.”
Before the major deal, Kylie owned 100 percent of the stake in Kylie Cosmetics and Kylie Skin. The brand, that has reached a revenue of $1.2 billion, helped her nab the title of Forbes youngest self-made billionaire. It’s safe to say she’s come a long way since launching the Kylie Lip Kit in 2015.
Kylie also released a statement about the partnership and said,
“I’m excited to partner with Coty to continue to reach even more fans of Kylie Cosmetics and Kylie Skin around the world. 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.”
It looks like it’s the beginning for Kylie!
How do you feel about Kylie Jenner’s major deal? Tell us in the comments!