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Kylie Cosmetics cashes out for $600 million in new deal

Rise and shine! There are some pretty big changes being made in the world of Kylie Cosmetics and Kylie Skin, including Ms. Jenner herself taking a bit of a step back. And by “bit” I mean a $600 million step back.

Last week, makeup and beauty mogul Kylie Jenner, named Forbes youngest self-made billionaire (though the self-made part is a wee bit questionable) sold half of her company to Coty Inc.—the parent company to big-box names such as Clairol, Covergirl, and Sally Hansen, just to name a few. The $600 million sale gives Coty Inc. 51% of the company’s stake, putting the company as a whole at an estimated $1.2 billion of worth.

Kylie explains that the business move wasn’t so she could be less involved with the company, but rather so that more people with the right connections could be more involved. With the eventual goal to make Kylie Cosmetics and Kylie Skin, and presumably any other brands the millionaire makes, more attainable and available to fans.

The company started as purely online sales before moving slowly into some department stores, and then finally landing a major deal with Ulta to be one of their featured brands. With Coty Inc. now involved, there is no telling how far the brand could reach, but it’s expected that an emphasis will be placed on international markets and in creating more product (perfumes, nail polishes, skincare… the works) so that everyone can be a part of Kylie’s makeup movement.