Kylie Jenner has cashed out, announcing that she has sold the majority share of her Kylie Cosmetics company for a whopping $600 million.
Kylie sold the shares to Coty Inc., who is the company behind beauty brands like CoverGirl, MaxFactor, and Clairol. The company is currently valued at $1.2 billion, and Kylie Cosmetics is on track for roughly $200 million in sales this year, per WSJ.
"I'm excited to partner with Coty to continue to reach even more fans of Kylie Cosmetics and Kylie Skin around the world. 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," the beauty maven said in a statement.
Despite the sales, Kylie will remain the face of both of her brands, Kylie Cosmetics, and Kylie Skin.
"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," Coty CEO Pierre Laubies said a statement.