Photo by Melpo Tsiliaki on Unsplash
All hail Queen Kylie. The makeup mogul who built a billion-dollar empire by the age of 21 is selling the company that put her name in the makeup bags of women around the globe. That’s right! Kylie just sold the majority stake in Kylie Cosmetics and I am not mad at her.
Who’s Buying?
American cosmetics, skincare and fragrance brand Coty is the lucky buyer. The company owns household names like Covergirl, Gucci, Rimmel, Lacoste, Balenciaga, Adidas, and the list goes on. So yeah, it’s NBD or anything, Kylie just put her company in the presence of greatness or whatever.
What Exactly Did They Buy?
Well, it’s not like Kylie is giving her entire company away but she did sell the majority, a whopping 51 percent, to the cosmetics brand. So, that means the new stakeholders have all the power.
You Said How Much?
Did you hear the one about the 22-year old that sold her company for $600 million? That’s right. 600 MILLION is the price tag to have majority control of one of the top makeup brands in the game.
Why’d She Do It?
I think Kylie recognizes her strong suits in business and is taking a backseat on things she knows she needs help with. I mean, the girl can only do so much. She’s gotten the company this far but it’s time to take it to the next level! She needs help with the business side of things because think about it, none of the Kardashians have ever dealt with anything this big. Kris doesn’t know what the heck to do with this billion-dollar company so this seems like a logical step. Now Kylie can focus on the part of the company she thrives in, the part that got her where she is today and that’s marketing and product development.
What’s exciting is this announcement comes just in time for her holiday launch. A little extra buzz around the Christmas drop can’t hurt, amiright?
My Only Concerns
Kylie will still be the face of the brand. I only worry that the company will suffer because Kylie Cosmetics is built on the fact that Kylie’s touch is on every product launched. With less control, that may fade. But there is light in all of this. Coty showed how much they value Kylie with the amount they paid for the majority stake. So, with that holding true, I’m sure Kylie’s new creative only role will keep the same tactics we know and love.
Kylie Might Be Working on Something New
She might be using the $600 million as seed money for a new business venture. Who knows? But I for one am excited to see what next’s for Kylie Cosmetics, which by the way, will be rebranded as Kylie Beauty moving forward to help launch the mogul’s business into more avenues in the beauty industry.
It seems as though Kylie has a well-oiled machine with her cosmetics line and is ready to take another venture by storm. What do you guys think? Do you think Kylie will move on to something else? If so, what do you think she will do next?