Good news, everyone! The world’s richest 21-year-old just got even richer. Just when you thought the buzz around Kylie Jenner had finally waned post-“Rise and Shine” popularity, Kris Jenner thrusted her youngest into the spotlight again. Early this morning, TMZ reported that the beauty mogul had sold 51% of her $1.2 billion empire to Coty. What does $1.2 billion even look like? At some point, being rich must just feel like a game of monopoly. Only, instead of passing go and collecting $200, Kylie is collecting a cool $600 million for a little over half of her beauty empire. Must. Be. Nice.
The announcement comes just in time for the drop of her Holiday ‘19 collection, which hits digital stands tomorrow, November 19, at the very random time of 3pm PST. Perhaps the timing is coincidental, but if I know anything about the Jenners, nothing is ever a coincidence. This partnership gives the brand a little extra buzz while Kylie posts previews of her new collection on her Instagram story.
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Outside of her deal with Ulta, Kylie’s products are largely exclusive to her site. Even what she sells on Ulta is exclusive to the store. Coty’s majority share could mean an end to all of this exclusivity, and the potential for lower prices. For some Kylie stans, this news prompts panic about what this could mean for the popular beauty brand’s future.
Coty is going to do to @kyliecosmetics what they did to Philosophy. Quantity not Quality anymore.
— DIANNE (@onceatweeter) November 18, 2019
Selling majority ownership of her cosmetics company was dumb as hell. Now when, not if, the quality of the product goes down, she has no say. She’s just the face
— Sara (@StarOne1979) November 18, 2019
I personally was hoping that giving up majority stake of Kylie Cosmetics meant she was turning her attention to her budding “Rise and Shine” business, but that is unfortunately not the case here. Kylie will retain creative control and continue to lead the brand’s communications initiatives. While this likely means that the brand’s identity, which is basically Kylie’s identity I guess, will remain intact, it does not necessarily guarantee that the quality of the products will remain the same, nor the commitment to current business practices. Then again, Kylie’s beauty empire is hugely successful at the moment, so I’d guess that the likelihood of any big overhauls or changes is nil for the foreseeable future.
This move makes a lot of sense if you’re Coty, which owns brands like CoverGirl, Clairol, and OPI, because one, Kylie Cosmetics is hugely successful. Two, Kylie and influencers like her have completely upended the way the beauty business does, well, business, by making social media king when it comes to branding and sales. Fans of the beauty line will also likely benefit from the deal, as Coty intends to expand Kylie Cosmetics and Kylie Skin into more retailers, making it easier to access digitally and in stores.
Please, we need retailers! Custom fees are super expensive for us international costumers. Every other brand has retailers nowadays 😔
— Alice (@impensiusuror) November 16, 2019
Kylie also has a lot to gain from the deal, as Coty has the man power and the experience to help her expand the brand internationally. In other words, Kylie will be laughing all the way to the bank as this deal likely means even more money rolling in as the partnership progresses. As for me, I’m going to go look at my student loan statement and cry, while I patiently wait for the day that Kris Jenner adopts me into her absurdly wealthy empire. I’d even change my name to a weather pattern if need be—call me, Kris!
Images: Shutterstock.com; impensiusuror, StarOne1979 / Twitter; kyliecosmetics / Instagram