Kylie Jenner considering buying back Kylie Cosmetics from Coty
As her sister Kim Kardashian is doing, Kylie Jenner is rumoured to be considering the possibility of buying back her Kylie Cosmetics brand from U.S. group, Coty. The relationship between Coty and the two US reality TV stars is currently said to be at the very least tense.
According to Bloomberg, Kylie Jenner has begun negotiations to buy a 51% stake in Kylie Cosmetics, acquired in 2020 by Coty for $600 million (€553 million).
In July, Kim Kardashian started negotiating with Coty, aiming to take back total control of her Skkn by Kim skincare brand. In 2020, Coty bought a 20% stake in Kardashian’s beauty brand, then called KKW Beauty, for $200 million. An operation that valued the brand at $1 billion.
Coty's brand portfolio includes 50 names (among them CoverGirl, Bourjois, Max Factor, Rimmel, and Lancaster), of which 35 are under license (including Gucci, Chloé, Marc Jacobs, Hugo Boss, and Burberry). The group, which has recently bolstered its partnership with Marc Jacobs, generated a revenue of $5.55 billion (€5 billion) in fiscal 2022-23, closed on June 30, equivalent to a 12% increase in like-for-like terms and at constant exchange rates.
In the same period, Coty’s Prestige division, which includes SKKN by Kim and Kylie Cosmetics, grew by 13% to $3.4 billion.
Contacted by FashionNetwork.com, Coty has declined to comment.
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