Kylie Jenner Just Made 600 Million More Dollars

Kylie has sold off 51 percent of her cosmetics company to the New York cosmetics multinational Coty, which also owns Tiffany & Co, CoverGirl, and Balenciaga, for $600 million. She and her team will remain on board in a creative capacity.

The sale means Kylie Cosmetics will be rebranded as “Kylie Beauty.” In a press release, Jenner emphasized that she’ll remain in communication with her customers.

“I’m excited to partner with Coty to continue to reach even more fans of Kylie Cosmetics and Kylie Skin around the world,” Jenner said. “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.”

Kylie started her makeup line in 2015 with lipstick kits. Since then, Kylie Cosmetics has made $177 million in revenue selling over $360 million in products over the last year.