The Kylie Cosmetics and Kylie Skin mogul is one of ten billionaires under 30 years old ranked on the magazine's annual list
The success of her growing beauty business led Jenner to sell a 51 percent stake in herwhich owns other beauty brands including Covergirl, OPI, Rimmel, GHD and Clairol. The sale valued the company at almost $1.2 billion. While Jenner did sell a majority stake in Kylie Cosmetics, according to an official release, she and her team will continue to lead all creative efforts of product development and communication initiatives.
RELATED: Kris Jenner Discusses Daughter Kylie Selling Majority Stake of Kylie Cosmetics for $600 Million “I’m excited to partner with Coty to continue to reach even more fans of Kylie Cosmetics and Kylie Skin around the world,” Jenner said in a release. “I look forward to continuing the creativity and ingenuity for each collection that consumers have come to expect and engaging with my fans across social media.
“We don’t see any weaknesses. We see strength everywhere. We see strength in cosmetics. We see strength in skincare both digitally and in the launch in Ulta,” says Coty’s Chief Financial Officer Pierre-André Terisse in a conference call with investors., Jenner used her loyal fanbase and powerful social media platform to catapult the brand into one of the fastest growing companies in the beauty business.
The mogul credited her millions of social media followers as the key to her success. “Social media is an amazing platform,” she said in the
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