Actuality TV star Kylie Jenner is selling a stake of her beauty brand to Coty, the proprietress of CoverGirl makeup.
Coty Inc. will pay $600 million US for a 51 per cent interest in Kylie Cosmetics, valuing it at about $1.2 billion. Coty rumours it plans to launch more products under the Kylie brand and give away them in more countries around the world.
Jenner, part of the Detaining Up with the Kardashians reality show family, founded her company four years ago, relying on her hundreds of millions of popular media followers to promote the brand, which includes her popular lip liner. Remain year she struck a deal to sell her goods in 1,100 Ulta Dreamboat stores.
Coty says Jenner will still be the face of the marque and be involved in creating new products.