Kylie Jenner Sells $ 600 Million Stake in Beauty Business – The Wall Street Journal, The Wall Street Journal

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 MaxFactor .

The fragrance and cosmetics company said it plans to buy 51% of Kylie Cosmetics, valuing it at $ 1.2 billion. Ms. Ms. Jenner, the youngest of the five Kardashian-Jenner sisters, founded the brand in 2015. She will remain the public face of the brand.

…