Earlier this week, the pubic was surprised upon learning that Kylie Jenner sold off 51 percent of Kylie Cosmetics to Cory. The reality star's business is valued at $1.2 billion in recent times. So, the selling value is rated at $600 million in totality.
According to Celebrity Insider, selling the majority of the shares does not mean that Kylie is already retiring from the industry. Rather, it was said that the billionaire make-up mogul saw the deal as an opportunity to expand further and grow her business.
While having the lesser ownership of the business, Kylie Jenner will reportedly remain "hands-on" with Kylie Cosmetics and Kylie Skin. In teaming up with Coty, who is also known for her several beauty brands and lines, the reality star will be the one to handle the communications and product initiatives.
On Coty's part, the beauty conglomerate will focus on the expansion of Kylie Cosmetics in terms of new markets and categories. So, the partnership will be beneficial to both parties.
Kylie Jenner also shared her sentiments on social media platforms. Based on her statements, the 22-year-old celebrity is "excited" for what is to come soon.
She also revealed that her partnership with Coty would allow her, and the rest of her team, to focus on the "creation and development" of the products. Accordingly, Coty will be the one to build the brand and transform it into an "international beauty powerhouse."
Kylie's mother/momager, Kris Jenner, also shared her joy and excitement over the business deal her daughter made. As per People, the 64-year-old matriarch of the Kardashian-Jenner household revealed that it was a moment for the family to be "proud."
She also added that this is partly a "crystallization" of all their hard works. This is Kylie's "vision," Kris Jenner added.
The CEO of Kris Communications further explained that Kylie Jenner partnered with Coty because the two beauty moguls "share the same visions." We all "dream big," and it's very "exciting" to see that it is all making sense now.
It was also revealed that Kylie Jenner loves what she is currently doing. While everyone in the family "enjoys" their current venture with Keeping Up With The Kardashians, Kris explained that her daughter found her passion in this industry.
As noted by Kris Jenner, Kylie wants to do this for the "rest of her life." She wants her creative side to "develop" her brand," and she talks about it "all the time."
