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With an eye on social media, Coty takes a majority stake in Kylie Cosmetics

Amy Scott Nov 18, 2019
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Kylie Cosmetics on display at Ulta beauty on November 18, 2019 in New York City. Kylie Cosmetics has sold a controlling stake to Coty Inc for a reported $600 Million. David Dee Delgado/Getty Images

With an eye on social media, Coty takes a majority stake in Kylie Cosmetics

Amy Scott Nov 18, 2019
Kylie Cosmetics on display at Ulta beauty on November 18, 2019 in New York City. Kylie Cosmetics has sold a controlling stake to Coty Inc for a reported $600 Million. David Dee Delgado/Getty Images
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Some big names in the cosmetics industry are joining forces. Coty Inc., the parent company of Cover Girl and Max Factor, has announced it’s buying 51% of Kylie Cosmetics, the startup founded by 22-year-old reality TV star Kylie Jenner.

It’ll cost Coty $600 million, which works out to a little over $2 for every social media follower the young entrepreneur has. Influencers are a growing force in the cosmetics industry, and established brands are looking for ways tap into that following.

Click the audio player above to hear the full story.

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