Kylie Jenner Might Be Selling Her Eponymous Company for a Very Surprising Reason
Who could have ever thought that following your heart and pursuing your passion could make you rich beyond your wildest dreams? Perhaps the greatest example is Kylie Jenner, the youngest self-made billionaire and the woman who dethroned Facebook founder and CEO Mark Zuckerberg, who had held the title formerly. Jenner launched her eponymous makeup line in 2015, selling a few lip kit collections that started a sprawling empire.
Of course, a lot has happened since then — the brand has expanded to include more cosmetics and skincare products, and as per usual, the youngest of the Kardashian-Jenner family has courted tons of controversy.
One of the biggest issues she recently faced was people’s reservations about her being declared a self-made billionaire. Some say that Kylie didn’t deserve the title because she came from a well-known family that had plenty of money, to begin with.
Despite the controversies she managed to attract, you can’t undermine the fact that she’s rich and still a billionaire. With the undying reports circulating that she’s about to sell her brand, it seems that she could become even wealthier.
At first, it didn’t seem true; how could she even imagine selling her brainchild away? It’s like giving away your most precious belonging that could make more money in the future. However, with the persistence of the speculations, it’s starting to bother most people who think that the Kylie Cosmetics mogul really is in talks with the gigantic beauty brand Coty, the owner of several big brands including O.P.I, Covergirl, Sally Hansen, and Rimmel London.
Selling the Company
What made the rumors even more believable is that cosmetic giant Coty is more than capable of buying Kylie’s brand. But fans of the 22-year-old shouldn’t scramble for answers just yet – the mom of one is still going to own a portion of her company. According to a source, the reality star is selling more than half (51 percent) of the label, which means she gets to keep a 49-percent stake.
This means that Kylie still has control of her company although the majority, which reportedly costs $600 million, will be acquired by Coty. As per reports, the social media superstar has long been eyeing to sell her company but wasn’t in a rush at all as she waited for the right buyer. That means there would be additional income for the already very, very, very rich woman.
Reason Behind the Decision
So what could possibly be the reason behind the sudden sale of her company? One issue could be the decline in sales. From January to May, there was a 14 percent drop which may be because first-time buyers didn’t come back for a second purchase.
This may have also been affected by the widespread negative comments over the internet regarding the order mix-ups, bad customer service, no return no refund rule, and with the products itself. Could Coty possibly be the solution Kylie has ever needed to save her cosmetics empire?
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