08.31.23
Kylie Jenner may want to buy back a majority stake in Kylie Cosmetics from Coty, according to reports. Coty bought a 51% stake in Kylie Cosmetics in 2019 and Sue Nabi, CEO, called Kylie and Kim Coty's "secret weapons."
Now, Bloomberg reports that in recent months, Jenner has had "informal discussions" about trying to buy back the 51% stake in Kylie Cosmetics that Coty bought for $600 million in 2020. Sources asked not be identified, saying, "the matter is private." There have been disagreements over price and valuation, sources say.
Kim Kardashian is also in talks to buy back the 20% stake in her skincare line, SKKN by Kim, that Coty agreed to buy for $200 million in 2020.
Bloomberg reports, "both women have expressed frustration with how Coty has managed their brands," according to sources—but representatives for Coty, Jenner, and Kardashian didn't respond to requests for comments.
Kylie Cosmetics' new wet look Gloss Drips lip gloss is shown, in a squeeze tube.
