Kris Jenner is finally opening up about the massive deal that her daughter Kylie pulled off last Monday where she sold 51% an estimated $600 million of her cosmetics company to Coty which will just make the reality television and social media star/entrepreneur even richer.
During an interview with Entertainment Tonight, Kris Jenner shared her thoughts about her daughter’s huge sale of the majority holdings of her cosmetics business. Jenner said that it was a huge day for Kylie and their team at Kylie Cosmetics and was a marvelous moment for their entire family. Jenner went on to say that this was a big indication that looking forward to the future will be a delight for all of them.
The Jenner Matriarch explained that their vision is to continue to develop Kylie’s existing beauty brand into a global powerhouse. She said that that was the reason why they decided to team up with Coty because the cosmetics giant shared the same vision they had.
Kylie will still continue to head the creative and marketing side of the business even after the deal with Coty has been finalized to further expand their brand to the global market.
Kris also shared that it was Kylie’s dream was to build her own beauty empire and explore other categories of the business that she has yet to discover and said that Kylie feels that this is what she was meant to do, to expand her creativity and further develop her brand.
When asked if she got 10% of what Kylie made, Kris reminded during the interview that she has already shared that before and went on to mention that her daughter is very lucky to be in the position she is at the moment. She goes on to say that she just wants to continue helping her daughters do whatever it is that they do and focus on fulfilling their dreams. The Jenner matriarch didn’t actually say yes to the question, but if she DID get ten percent, Kris banked a whopping $60,000,000 from the Coty deal.
The Jenner family matriarch also shared during her Entertainment Tonight interview that the entire family has been very supportive of Kylie throughout this whole venture.
Jenner stated that her daughter has made her own money for over a decade and saved it in a bank and when Kylie decided what she really want to do, she spent her hard-earned money on a business venture that in reality could have gone either a success or a failure. Kim Kardashian-West also said that if a person doesn’t get the resources from someone else, that’s being self-made. She went on to say that none of this was handed to her sister and Kylie was able to figure things out and became successful.
Alain Ang is an editor for Best in Au. He enjoys writing about entertainment, movies, and lifestyle. On off days he spends his time with his rescue dogs, Sansa and Heart, digging holes in Minecraft, and developing his novel.