Four years after launching the OG lip kits, the 22-year-old billionaire is selling 51% of her company!
Coty Inc., home to CoverGirl, ghd and OPI, confirmed in a press release it will be receiving a 51% ownership in a partnership with Kylie for a cool $600 million USD.
Kylie has since released an official statement about the decision to sell:
"I'm excited to partner with Coty to continue to reach even more fans of Kylie Cosmetics and Kylie Skin around the world."
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.
"This partnership will allow me and my team to stay focused on the creation and development of each product while building the brand into an international beauty powerhouse."