Kylie says she is building the brand into an “international beauty powerhouse”.

Forbes reported that she made $360 million in sales in 2018, making her the youngest self-made billionaire ever.

The chairman of Coty’s board called Kylie a “modern-day icon, with an incredible sense of the beauty consumer”.

Her online influence is so powerful that she reduced Snapchat’s stock market value by $1.3bn (£1bn) when she tweeted that she does not use the app anymore.

The reality TV star launched her brand in 2015 with a line of lipsticks, and has since then branched out into face make-up and skincare.

Although she’s the youngest, Kylie is the highest earner in the Kardashian family.

She faced backlash after being named a “self-made” billionaire but defended herself saying that none of her money has come from inheritance.

She has more than 151 million followers on her personal Instagram account, as well as 22 million on her Kylie cosmetics account.

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Coty, which owns brands like Burberry and Hugo Boss, will have a 51% stake in the company.

It said the deal will be completed in 2020.

Source – https://www.bbc.co.uk/news/

The post Kylie Jenner sells stake in cosmetics company for $600m appeared first on Daily Concord.

Jenner, 21, was finally given the title after months of speculation on Tuesday by Forbes as it unveiled its annual billionaires list. 

At 21, she is both the youngest self-made billionaire and the youngest billionaire on Forbes’ ‘young billionaires’ list. 

Jenner has amassed a personal net worth of $1billion through her wildly successful range of make-up, Kylie Cosmetics. 

Jenner is the youngest in her famous, reality TV family and the first to hit the billion dollar landmark. 

She was surprised by the success of her cosmetics company which was only founded in 2015 but is now worth an estimated $900million. 

Jenner, who owns a 100 percent stake in it, has separate income from endorsements and her family’s reality TV show. She also owns an impressive portfolio of real estate. That’s a nice pat on the back  Kylie Jenner on becoming the world’s youngest self-made billionaire   

‘I didn’t expect anything. I did not foresee the future. But [the recognition] feels really good. 

‘That’s a nice pat on the back,’ Jenner told Forbes. 

She credits her success to her enormous social media following which ensured her customer base before she made her first product. 

‘It’s the power of social media. I had such a strong reach before I was able to start anything,’ she said, adding that she sees the company going ‘very far’. 

‘I see [Kylie Cosmetics] going very far. I work really hard,’ she said. 

Her mother Kris would not rule out that she may sell the company in the future. 

‘It’s always something that we’re willing to explore,’ she said. 

Only two of the star’s sisters congratulated her success. Kendall, her closest in age, posted on Twitter and Instagram in support of her whereas Kim tweeted her pride.  

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Only two of Kylie’s famous sisters congratulated her on social media 

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Jenner was also congratulated by her boyfriend and the father of her child, Travis Scott 

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Facebook founder Mark Zuckerberg (left) was the youngest self-made billionaire when in 2008 when he was 23. Also on this year’s list is Snapchat founder Evan Spiegel (right with his wife Miranda Kerr). At 28, he has a fortune of $2.1billion and is the richest of the young, self-made billionaires 

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