Kylie Jenner Sells Majority Stake in Kylie Cosmetics for $600 Million

Kylie Jenner is selling a 51 percent stake of her Kylie Cosmetics brand to Coty, giving up her majority ownership in the company.

The sale ended up being for $600 million to Coty, which also owns brands like Covergirl, OPI, Rimmel, GHD and Clairol. The company has been valued at $1.2 billion.

“I’m excited to partner with Coty to continue to reach even more fans of Kylie Cosmetics and Kylie Skin around the world. I look forward to continuing the creativity and ingenuity for each collection that consumers have come to expect and engaging with my fans across social media,” Kylie Jenner said in a statement. “This partnership will allow me and my team to stay focused on the creation and development of each product while building the brand into an international beauty powerhouse.”

Kylie was announced as the world’s youngest self-made billionaire back in March.