Kylie Jenner is said to be working overtime to deliver more addictive beauty products just days after she announced that she became $600 million richer.
The 22-year-old mother of one announced on Monday that she sold off a 51% stake of her famous brand, Kylie Cosmetics, to beauty conglomerate Coty. Note that the company is valued at $1.2 billion.
Many fans predicted that Kylie was busy cooking up a new project, and her mother, Kris Jenner, happily confirmed that.
The Keeping Up with the Kardashians star and momager made this announcement: “It’s also a moment to look forward and be really excited about the future. I think the goal is just to 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.”
Kris had the following to say: “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.”
A source close to Kylie spoke to Hollywood Life and revealed that she is eager to take the brand to another level and added: “Kylie did not sell the majority of her company because she wants to step back…but rather because she sees this as an incredible opportunity to help grow her cosmetics and skin line even further than before.”
The insider shared: “She is going to remain just as hands-on with the line, but she decided to team up with Coty in order to continue growing her empire. Kylie is super excited about this next phase of her brand, and she looks forward to seeing where it goes next.”
Kylie said in a statement after the news broke: “I’m excited to partner with Coty to continue to reach even more fans of Kylie Cosmetics and Kylie Skin around the world. 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.”
Kylie has a clear roadmap to success.