logo
Plus   Neg
Share
Email

Kylie Cosmetics And Kylie Skin Set To Get Better

kylie-111819-lt.jpg

Kylie Cosmetics and Kylie Skin is set for a growth after the cosmetics company launched by Kylie Jenner in 2015 sold a major majority stake to beauty conglomerate Coty for $600 million.

Jenner, who has been maintaining the full ownership of the company since its launch, sold 51 percent stake in Kylie Cosmetics to Coty.

Coty owns several other beauty brands including Covergirl, OPI, Rimmel, GHD and Clairol. Previously, the company had agreed to buy Proctor & Gamble's beauty brands in October 2016 for $12.5 billion.

Coty had appointed Pierre Laubies as new CEO last year and made several changes to the board. Since arriving, Laubies has been looking to unload underperforming brands such as its hair care and professional beauty business.

Meanwhile, Jenner and her team will continue to lead the company's creative efforts related to products and communications.

Jenner had launched her brand in November 2015 with the Kylie Lip Kit, which included a liquid lipstick and lip pencil.

"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 a 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 product while building the brand into an international beauty powerhouse."

Coty sees much potential in expanding distribution of Kylie Cosmetics and Kylie Skin into more retailers, both in the U.S. and internationally. Kylie Cosmetics can use Coty's global knowledge in R&D, manufacturing, distribution, commercial and go-to-market expertise.

For comments and feedback contact: editorial@rttnews.com

Business News

Follow RTT
>