Does This Mean Kylie Jenner Is Planning On Selling Kylie Cosmetics?
There are reports that she's considering a deal with another company
It sounds like Kylie Jenner might be considering offloading the business that made her a billionaire.
The Keeping Up With The Kardashians has made a tidy fortune from her Kylie Cosmetics empire, but a report published by WWD today has claimed that the 21-year-old is thinking about selling the business to beauty company, Coty.
The brand – who happen to own Rimmel London and Covergirl – are reportedly considering purchasing the business for $600 million at a 51% stake. That would mean Kylie still retains some influence and ownership over the brand.
This comes months after the mum-of-one was criticised for being called a “self-made” billionaire by Forbes, despite the fact that she had a platform of millions from her reality-star roots.
At the time, she argued: “I did not get money from my parents past the age of 15. I used 100% of my own money to start the company, not a dime in my bank account is inherited, and I am very proud of that.”
She later admitted that her situation is very rare: “I can’t say I’ve done it by myself. If they’re just talking finances, technically, yes, I don’t have any inherited money. But I have had a lot of help and a huge platform.”
As long as we can continue bulk-buying her products at a ridiculous rate, we don’t really have much of an opinion on who happens to own the largest portion of her company.