Kylie Jenner, the beauty mogul of the Kardashian-Jenners, might be adding another zero to the end of her net worth. On June 19 WWD reported that Coty Inc. might purchase a 51 percent stake in Kylie Cosmetics for $600 million USD. Despite the brand appearing as a Instagram-centered figure, Kylie’s brainchild is exceptionally successful.
During its first 18 months, Kylie Cosmetics sales totaled in $420 million USD. Since the initial launch of lip kits, the Instagram-darling has expanded into loose powders, brow products, skincare and various collaborations with Kim Kardashian and Khloé Kardashian. ULTA Beauty also carries the brand.
Considering new beauty brands are popping up everywhere, Kylie Cosmetics getting noticed by Coty is a big deal. Historically skincare and makeup brands have needed the backing of consumer goods giants (i.e., Proctor and Gamble, LVMH) to reach substantial success but Kylie Cosmetics is a self-backed brand. And while some may speculate that the Kardashian-Jenner family had supported the venture, personal wealth is no guarantee for business success.
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