With an eye on social media, Coty takes a majority stake in Kylie Cosmetics
Share Now on:
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.
If you’re a member of your local public radio station, we thank you — because your support helps those stations keep programs like Marketplace on the air. But for Marketplace to continue to grow, we need additional investment from those who care most about what we do: superfans like you.
Your donation — as little as $5 — helps us create more content that matters to you and your community, and to reach more people where they are – whether that’s radio, podcasts or online.
When you contribute directly to Marketplace, you become a partner in that mission: someone who understands that when we all get smarter, everybody wins.