Kylie Jenner Sells 51% of Kylie Cosmetics.
Music by: CJOnTheBeat – Dark Hours.
It’s Pavel, Founder of CULTED.
Kylie Jenner just cut a deal – selling 51% of Kylie Cosmetics to industry giant Coty for $600 million – valuing her company at $1.2 billion – not bad for a 4-year-old company she founded as a teenager.
While Coty will now on be responsible for portfolio work and making the brand international, Kylie Jenner will continue to work on all creatives and marketing.
Some have continued to be underwhelmed by Kylie Jenner’s success, stating it has been built on her family name and fame.
But the question is, how many famous teenagers have built a billion-dollar company?
While Kylie’s sisters have the same family name and opportunities, none of them have been able to build a company worth $1.2 billion as yet.
What did Kylie Jenner do differently?
Being a Gen Z herself, she’s able to connect with us, knowing exactly what our generation wants, mastering the direct selling approach.
While Kylie Cosmetics is stealing the spotlight, other traditional beauty groups are desperate to tap into the Gen Z market.
Only yesterday morning cosmetics giant Estee Lauder made an even bigger deal, buying 2/3rds of Korean beauty brand Have&Be for $1.1billion.
The timing of Kylie’s major deal makes perfect sense, as she’s cashing in on the brand while her fame and Kylie Cosmetics are at their peak.
So, let’s see how Kylie Cosmetics will evolve.
Don’t forget to let us know what you think of these major moves.
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