Coty Inc. is paying $600 million for a controlling stake in Kylie Jenner’s cosmetics startup, wagering that the celebrity’s brand can revive a struggling beauty business based on CoverGirl and Max Factor. The fragrance and cosmetics company said it plans to buy 51% of Kylie Cosmetics, valuing it at $1.2 billion. Ms. Jenner, the youngest of the five Kardashian-Jenner sisters, founded the brand in 2015 and promoted it on Instagram where she has amassed more than 150 million followers. She will remain the public face of the...

Source: Wall Street Journal November 18, 2019 13:48 UTC