The renowned model and businesswoman Kylie Jenner, who rose to fame with the hit reality show “Keeping Up with the Kardashians,” is ready to take back control of her beauty empire. According to reliable sources, The young star is exploring the possibility of buying back a significant stake in Kylie Cosmeticsthe company she founded in 2015 with the launch of the popular Kylie Lip, and which she sold to the multinational beauty company Coty in a deal worth hundreds of millions of dollars in 2020.
Although the sale of Kylie Cosmetics to Coty in 2020 seemed like a bold move at the time, it appears Jenner is reconsidering her decision. The model has held informal talks in recent months to reacquire 51% of the company that was once hers in its entirety.. This news was reported by ‘Bloomberg News’, which has generated a stir in the beauty and entertainment industry.
Kylie Cosmetics
Kim Kardashian joins Kylie Jenner’s initiative
But Kylie Jenner is not the only one in the family looking to regain control of her assets. His half sisterKim Kardashian is also considering buying back a portion of her high-end skincare line, SKKN by Kim. In 2020, Coty acquired 20% of this brand for a surprising $200 million. Now, Kim Kardashian is looking to reassert her dominance over her beauty empire, which was valued at $1 billion at the time of the sale.
Both sisters’ interest in buying back their respective brands could be related to their alleged frustrations with the way Coty has managed their businesses after the sale. Anonymous sources cited by the ‘Wall Street Journal’ have cited disagreements over pricing, valuation and brand management as factors that could lead to a possible split between Coty and the Kardashian-Jenner sisters’ respective brands. As expected, this news has had an impact on the beauty market and Coty shares.. The company, which is listed on the stock exchange, experienced a slight drop in its share price after the intention of Jenner and Kardashian to buy back their brands became known..
Kylie Cosmetics
The controversial 2020 agreement
Let us remember that Kylie Jenner sold 51% of Kylie Cosmetics to Coty in 2020 for $600 million. At the time, the deal was considered a milestone for the Kardashian-Jenner family and increased the perception that Kylie was a self-made billionaire, given that the deal with Coty valued the company at $1.2 billion. However, further investigation revealed that Kylie Cosmetics’ business was smaller and less profitable than initially reported. Financials disclosed by Coty showed the brand generated $125 million in 2018, significantly lower than the $360 million previously claimed. Additionally, the family was found to have manipulated figures and even filed false tax returns.
2023-09-16 06:45:27
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