Billionaire Kylie Jenner to cash in on her cosmetics line with $600 million sale to Coty by MadelinePBerg
. Thanks to her social media following, her line of $29 “lip kits,”—a lip liner and lipstick—quickly took off. With miniscule 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 —its first step into retail stores.estimated the company’s 2018 revenues at $360 million.
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,” Pierre Laubies, Coty Chief Executive Officer, 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 that beauty sales have similarly impressive repeat sales numbers.
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