Kylie Jenner sells majority stake in Kylie Cosmetics, rakes in $600 Million!

It's important to remember that Kylie Jenner is capable of making good decisions. She has just struck a deal that sells part of her company, while keeping creative control and raking in $600 million. Wow! From the company's launch in 2015, Kylie Cosmetics remained entirely owned by its creator, Kylie Jenner. That has now changed. Kylie has sold a 51% stake in the company a controlling share to Coty. During the purchase, Kylie Cosmetics was valued at $1.2 billion and with this Kylie just raked in about $600 million in cash. The sale places Kylie Cosmetics within the same family as brands like Covergirl, OPI, Rimmel, GHD and Clairol. According to the official release, despite losing control of the company, Kylie will continue to enjoy creative control of the company. In exchange, Coty can reap the benefits of Kylie Cosmetics' popularity while also expanding its market. Kylie Jenner released a statement about the sale. "I’m excited to partner with Coty to continue to reach even more fans of Kylie Cosmetics and Kylie Skin around the world," she begins. The statement reads: "I look forward to continuing the creativity and ingenuity for each collection that consumers have come to expect."