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Kylie Jenner has sold a 51% stake in her beauty brand, Kylie Cosmetics, to global beauty conglomerate Coty, which valued the company at nearly $1.2 billion.
In an announcement this morning, Coty said it would head up the strategic expansion of the brand into new markets as well as beauty categories, while Jenner will continue to lead product and communications initiatives.
“I’m excited to partner with Coty to continue to reach even more fans of Kylie Cosmetics and Kylie Skin around the world,” Jenner said in a statement.
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