Coty Inc. agreed to pay $600 million for a majority stake in Kylie Jenner’s cosmetics line, the latest move by a major beauty company to acquire trendy brands that appeal to a younger clientele. The deal values Kylie Cosmetics, which Jenner, 22, started in 2015 as a line of lip kits when she was still a teenager, at about $1.2 billion. The biggest beauty companies have been on an acquisition spree in recent years as they hope to court younger shoppers with upstart brands. Now the business sells a variety of items including eyebrow gel and skincare products such as face scrubs and sunscreen oil. The Kylie deal is a “key milestone” in Coty’s transformation into a more focused and agile company, the company said in the statement.

Source: Los Angeles Times November 18, 2019 14:37 UTC