Kylie Jenner, 22, sells majority stake in her company for $600m



Kylie Jenner will sell the majority of her cosmetics company for $600 million (£463 million). The 22-year-old's brand, including Kylie Cosmetics and Kylie Skin, will be controlled by beauty giant Coty.

Kylie says she is building the brand into an "international beauty powerhouse".  Forbes reported that she made $360 million in sales in 2018, making her the youngest self-made billionaire ever.

The chairman of Coty's board called Kylie a "modern-day icon, with an incredible sense of the beauty consumer".

Her online influence is so powerful that she reduced Snapchat's stock market value by $1.3bn (£1bn) when she tweeted that she does not use the app anymore.

The reality TV star launched her brand in 2015 with a line of lipsticks, and has since then branched out into face make-up and skincare.  Although she's the youngest, Kylie is the highest earner in the Kardashian family.

She faced backlash after being named a "self-made" billionaire, but defended herself saying that none of her money has come from inheritance.

Source: bbc.com




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