Coty and Kylie Jenner form strategic partnership to develop Kylie into global brand

Coty and Kylie Jenner have finished the transaction to create a long-term strategic partnership to jointly develop Kylie’s existing beauty business into a global brand.

As part of the next steps to global expansion and foray into new beauty segments, Christoph Honnefelder will take up the role of CEO of Kylie Cosmetics and Kylie Skin in the near future.

Christoph was most recently serving as executive vice president for assortment and purchasing and a member of the executive committee at Douglas, an European specialty beauty retailer with over 2,200 doors.

Before his role at Douglas, Christoph served nine years at German consumer goods and coffee retailer Tchibo in various senior management positions. He commenced his career at The Boston Consulting Group.

Kylie Jenner said: “I’m excited to welcome Christoph to the team and look forward to the continued growth of Kylie Cosmetics and Kylie Skin.”

Coty CEO Pierre Laubies said: “We are pleased to complete this transaction and partner with Kylie Jenner to build a high growth, digitally native beauty brand.”

Meanwhile, Kylie and her team will lead all efforts with regard to product and communications initiatives, building on her global reach through social media.

Coty will assume the complete responsibility for the portfolio’s development, by leveraging its global expertise and capabilities in R&D, manufacturing, distribution, commercial and go-to-market expertise, besides its deep understanding of the fragrances, cosmetics and skincare categories.

It also plans to continue working with the existing strategic partners in current product categories.