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Kylie Cosmetics: Kylie Jenner sells company for $600m | Kylie Cosmetics: Kylie Jenner sells company for $600m |
(32 minutes later) | |
Kylie Jenner will sell the majority of her cosmetics company for $600 million (£463 million). | Kylie Jenner will sell the majority of her cosmetics company for $600 million (£463 million). |
The 22-year-old's brand, including Kylie Cosmetics and Kylie Skin, will be controlled by beauty giant Coty. | |
Kylie says she is building the brand into an "international beauty powerhouse". | Kylie says she is building the brand into an "international beauty powerhouse". |
Forbes reported that she made $360 million in sales in 2018, making her the youngest self-made billionaire ever. | Forbes reported that she made $360 million in sales in 2018, making her the youngest self-made billionaire ever. |
The chairman of Coty's board called Kylie a "modern-day icon, with an incredible sense of the beauty consumer". | The chairman of Coty's board called Kylie a "modern-day icon, with an incredible sense of the beauty consumer". |
The reality TV star launched her brand in 2015 with a line of lipsticks, and has since then branched out into face make-up and skincare. | The reality TV star launched her brand in 2015 with a line of lipsticks, and has since then branched out into face make-up and skincare. |
She has more than 151 million followers on her personal Instagram account, as well as 22 million on her Kylie cosmetics account. | She has more than 151 million followers on her personal Instagram account, as well as 22 million on her Kylie cosmetics account. |
Coty, which owns brands like Burberry and Hugo Boss, will have a 51% stake in the company. | Coty, which owns brands like Burberry and Hugo Boss, will have a 51% stake in the company. |
It said the deal will be completed in 2020. | It said the deal will be completed in 2020. |
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Listen to Newsbeat live at 12:45 and 17:45 weekdays - or listen back here. | Listen to Newsbeat live at 12:45 and 17:45 weekdays - or listen back here. |