The youngest member of the Kardashian/Jenner squad, who also happens to be the youngest self-made billionaire – just got a whole lot richer. Kylie Jenner sold majority shares of her beauty brand Kylie Cosmetics for $600 Million (approximately Dhs2 Billion) in the hopes of expanding the brand’s reach and transforming it into an international beauty powerhouse.
Kylie Cosmetics has been valued at $1.2 Billion and has a huge Instagram following, meaning she has to spend basically nothing on marketing, as most is done on the company Instagram or her own personal account (which boasts 151 million followers).
By selling her shares, stores worldwide can now stock her products, allowing you to shop IRL instead of online - which can be a drawn-out process if you live outside of the US. Coty Inc., which owns the Dolce & Gabbana, Gucci and Hugo Boss fragrances among other beauty brands, now owns 51 per cent of Kylie Cosmetics. However, the 22-year-old will keep her place as the creative lead on both product development and marketing, and, presumably, will keep raking in the cash.