Coty to pay $600m for majority stake in Kylie Jenner cosmetics brand

Beauty products giant Coty announced a deal to take a majority stake in Kylie Jenner's cosmetics and skincare company.

Kylie Jenner attends the 2018 MTV Video Music Awards at Radio City Music Hall on August 20, 2018 in New York City.NEW YORK - Beauty products giant Coty announced Monday a deal to take a majority stake in Kylie Jenner's cosmetics and skincare company, marrying Jenner's celebrity prominence with Coty's distribution and commercial prowess.

Jenner, the youngest daughter of Kris Jenner and Caitlyn Jenner, formerly known as Bruce Jenner, has more than 270 million social media followers and rates as"one of the most influential voices among beauty consumers globally," said a statement from both companies. "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."

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