Coty to buy 51% stake in Kylie Jenner’s cosmetics line for $600m

US-based multinational beauty company Coty has agreed to acquire a 51% stake in Kylie Jenner’s make-up and skincare businesses for $600m.

The acquisition is anticipated to close in the third quarter of fiscal year 2020.

Kylie Jenner is an American media personality, socialite, businesswoman, and model with more than 270 million followers across her personal and brand social media channels.

Under the deal, Coty and Kylie Jenner will expand beauty brands globally. Both the firms will use their strengths to further build a digitally native beauty brand.

Both the companies will jointly build and further develop Kylie’s existing beauty business into a global powerhouse brand.

The creative efforts with respect to product and communications initiatives will be led by Kylie and her team.

Kylie’s cosmetics brand, Kylie Cosmetics, which was launched in November 2015, offers various products that include the Kylie Lip Kit, eyeliners, eyeshadows, blushes, highlighters, concealers, brushes, and makeup bags.

Kylie introduced Kylie Skin, a range of skincare products, in May 2019 after the success of the cosmetics brand.

Coty said all beauty categories within the new deal will be sold via leading luxury beauty retailers as well as owned digital channels.

Coty CEO Pierre Laubies said: “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 has a portfolio of brands across fragrance, color cosmetics, hair color and styling, and skin and body care. The company’s products are sold in more than 150 countries across the world.