Fragrance and cosmetic company Coty Inc. announced it will purchase a 51% stake in Kylie Jenner’s beauty business—which includes Kylie Cosmetics and Kylie Skin—for $600 million.
. Thanks to her social media following, her line of $29 “lip kits”—a lip liner and lipstick—quickly took off. With minuscule overhead and almost no marketing costs , the business was likely profitable from the start.
Over the next few years, Jenner expanded into eyeshadow palettes, eyeliners, bronzers and more. In August 2018, she inked an exclusive distribution deal with beauty retailer Ulta—a first step into retail stores.estimated the company’s 2018 revenues at $360 million. But according to a statement on Monday from Coty, Kylie Beauty generated revenues of $177 million over the past 12 months—a figure that, according to a presentation to investors, represents 40% growth over the 2018 calendar year.
Coty hopes that it can use its global footprint to expand Kylie Beauty internationally; over half of Jenner’s social media followers are outside the United States while the vast majority of Kylie Beauty sales are still in the U.S., Terisse said on the call. Coty has manufacturing centers and distribution channels throughout the world.
“Combining Kylie’s creative vision and unparalleled consumer interest with Coty’s expertise and leadership in prestige beauty products is an exciting next step in our transformation and will leverage our core strengths around fragrances, cosmetics and skincare, allowing Kylie’s brands to reach their full potential,” Coty chief executive Pierre Laubies said in a statement.
Coty is betting that Kylie Cosmetics is not a fad, despite its reliance on Jenner’s social media following. The company points to the fact that over 50% of skincare sales are to repeat purchasers and says beauty sales have similarly impressive repeat sales numbers.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Kylie Jenner Plans On Handing The Family Business To Stormi To Run, Says Kris JennerStormi Webster Can Have The Reins To Kylie Cosmetics When She's Older, If She Wants It
Consulte Mais informação »
Kylie Jenner Just Sold Her Majority Stake in Kylie Cosmetics for $600 MillionKylie Jenner sold majority stake in Kylie Cosmetics to Coty for $600 million—read about whether Kylie still owns Kylie Cosmetics here.
Consulte Mais informação »
Kylie Jenner Just Sold Kylie Cosmetics for a Hefty ProfitLooks like this member of the Kardashian fam just got even richer.
Consulte Mais informação »
Kylie Jenner reveals she's selling shares of Kylie Cosmetics to CotyKylie Jenner has revealed that she's sold over half of Kylie Cosmetics stakes to Coty, for £400million. The reality star's decision was announced on Tuesday evening
Consulte Mais informação »
Kylie Jenner Sold Off a Majority Stake of Kylie Cosmetics to CotyKylie Jenner just got a whole lot richer. The beauty mogul has sold a majority stake of her brand Kylie Cosmetics to conglomerate Coty—home to beauty powerhouses like Covergirl, OPI, Rimmel, GHD and Clairol—for a reported $600 million.
Consulte Mais informação »
Kylie Jenner Sold Off a Majority Stake of Kylie Cosmetics to CotyKylie Jenner just got a whole lot richer. The beauty mogul has sold a majority stake of her brand Kylie Cosmetics to conglomerate Coty—home to beauty powerhouses like Covergirl, OPI, Rimmel, GHD and Clairol—for a reported $600 million.
Consulte Mais informação »