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Move would mirror Kim Kardashian's buyback efforts for SKKN by Kim.
September 1, 2023
By: TOM BRANNA
Editor
Coty can't keep up with demands by the Kardashian clan. Just weeks after older sister Kim Kardashian sought to buy back the stake that Coty owns in SKKN by Kim, Kylie Jenner is reportedly in talks to buy back Coty's stake in Kylie Cosmetics. Why the change of heart(s)? Sources say Jenner and her team are unhappy with management of the brand, and disagree with price and valuation, too. In 2020, Jenner sold 51% of Kylie Cosmetics, the company she started in 2015 with the launch of Kylie Lip Kits, to Coty for $1.2 billion. Less than two years later, Coty re-launched Kylie Cosmetics with new formulas and a new website, and also put the cosmetics in brick and mortar stores for the first time. In the recently concluded third quarter, Coty said the brand grew by double-digits. That same year, Kardashian sold a 20% stake in her cosmetics brand to Coty for $200 million. Coty, of course, is one of the biggest beauty companies in the world, with global sales of more than $5.3 billion last year.
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