Kylie Jenner, the world’s youngest self-made billionaire–might be getting a lot richer soon. The word is that she’s poised to sell a big chunk of her cosmetics empire!
Kylie is reportedly in talks with Coty Inc. to purchase a majority share in her cosmetics company. Coty is one of the biggest players in the global beauty game–they own a huge number of drugstore beauty brands such as CoverGirl, Sally Hansen, Rimmel London, and OPI.
For a 51% stake in Kylie Cosmetics, Coty is reportedly willing to pay $600 million! A “well-placed” source told Women’s Wear Daily that after only a few years in business, Kylie is poised to sell off the majority stake for a huge profit while retaining her shares in the company.
However, there’s a good chance that the deal won’t go through. Kris Jenner teased the idea that Kylie has had a lot of interest in her company but won’t sell until she finds the perfect match.
Kylie recently made a deal with Ulta to distribute her lip kits in their stores after a successful launch online. If she sells out to Coty, it’s likely that her makeup line will end up in Walgreens, CVS, and Target. Does that mean she’ll be breaking up with Ulta? It’s possible–but we think Kylie will have already moved on.
She already launched a new line of skincare–including the much-criticized facial scrub containing walnut shell powder. According to documents she filed earlier this year, Kylie also plans to launch an extensive line of baby products in the near future.
While it’s impressive that the 21-year-old has amassed such a huge fortune and social media following… but it’s hard to get excited about a billionaire getting even richer.
A-Rod–who knows a little something about divas, considering that he’s engaged to JLo–dished about sitting next to Kylie at this year’s Met Gala. He told Sports Illustrated that she wasn’t the best conversationalist. In fact, all she talked about was her money and popularity.
“Kylie was talking about Instagram and her lipstick, and how rich she is.”
Kylie fired back on Twitter that it was all lies. According to her, they only talked about Game of Thrones. Her fans were quick to defend Kylie, pointing out that people will always be jealous of the mogul’s success.
Do you think super-successful, wealthy A-Rod is jealous of Kylie? To be fair, she’s worth more than anyone else at that Met Gala table, including A-Rod, Jennifer Lopez, Donatella Versace, and “some famous singer” the baseball player couldn’t even identify by name.
If he can’t remember her name, perhaps he didn’t correctly recall what he and Ms. Jenner talked about.