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    Breaking News

    Coty Buys Kylie Cosmetics, Now Owns A Majority Stake in the Brand

    Kylie Jenner sold 51% of Kylie Cosmetics to Coty for $600 million, but will continue to create and develop each product.

    Coty Buys Kylie Cosmetics, Now Owns A Majority Stake in the Brand
    Beauty Packaging Staff11.18.19

    Coty has purchased a majority stake -- 51% -- of Kylie Cosmetics for $600 million, valuing it at $1.2 billion.

    The media began talking about the possibility of this deal back in June.

    Today, Kylie Jenner announced that Kylie Cosmetics and Coty have entered into a long-term strategic partnership in order to jointly build and further develop Kylie’s existing beauty business into a global powerhouse brand.

    Coty released this statement: "Together, Coty and Kylie will set and lead the strategic direction of the partnership, focusing on global expansion and entry into new beauty categories. Kylie and her team will continue to lead all creative efforts in terms of product and communications initiatives, building on her unrivaled global reach capabilities through social media." 

    Pierre Laubies, CEO, Coty, comments, “We are pleased to welcome Kylie into our organization and family. Combining Kylie’s creative vision and unparalleled consumer interest with Coty’s expertise and leadership in prestige beauty products is an exciting next step in our transformation and will leverage our core strengths...allowing Kylie’s brands to reach their full potential.”

    Kylie Jenner created the brand in 2015, and has been its sole owner. She will remain the face of the brand. Back in March, the 22-year-old joined Forbes' list of The World's Youngest Self-Made Billionaires -- as its youngest, ever, at 21. 

    Jenner is one of the world’s most admired personalities with over 270 million followers across her personal and brand social media channels -- and Coty says she is one of the most influential voices among beauty consumers globally.

    Jenner says, “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."

    She adds, "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.”

    A Key Milestone for Coty

    This acquisition is a key milestone in Coty’s ongoing transformation, the company says, into "a more focused and agile company."

    Coty will have overall responsibility for the further development of the Kylie Cosmetics brand, leveraging its global knowledge and capabilities in R&D, manufacturing, distribution, commercial and go-to-market expertise.

    Coty will also act as a licensee for the brand's skincare, fragrances, and nail products.

    Coty also states: "Through the partnership, each party will leverage its unique strengths to further build a high growth, digitally native beauty brand."

    More Details

    Coty expects the transaction will be accretive to the net revenue growth of its core fragrance, cosmetics and skin care portfolio by more than 1% p.a. over the next three years. 

    The transaction is expected to be neutral to Coty’s earnings per share (EPS) in year one, and accretive thereafter. The ROIC of the transaction is expected to exceed Coty’s cost of capital by Fiscal 2023. 

    Kylie Cosmetics realized an estimated $177M net revenues for the trailing twelve months. The acquisition is expected to close in the third quarter of fiscal year 2020.

    All beauty categories within the new partnership will continue to be sold through leading luxury beauty retailers as well as owned digital channels. Tiger Chark served as an advisor to Coty on the transaction.

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