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Coty buys majority stake in Kylie Jenner’s cosmetics firm for $600m

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Jenner will lead creative efforts and communications, Coty and Kylie Cosmetics say

Kylie Jenner, February 10 2019. File Picture: AFP/VALERIE MACON.

The make-up and fragrance giant will have overall responsibility for the portfolio, while Jenner, part of the Kardashian clan, will lead creative efforts and communications, the companies said Monday in a statement. The deal values Kylie Cosmetics, which Jenner started in 2015 as a line of lip kits when she was still a teenager, at about $1.2bn.

The biggest beauty companies have been on an acquisition spree in recent years as they hope to court younger shoppers with upstart brands. Estee Lauder bought its remaining two-thirds stake in Korean skincare company Have & Be Co for about $1.1bn on Monday and Japan’s Shiseido spent $845m to buy clean beauty brand Drunk Elephant in October.

 

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