AMERICAN REALITY STAR KRIS JENNER REVEALS DAUGHTER KYLIE JENNER’S PLANS ON HER BUSINESS

Kris Jenner, mother of the American Reality show Keeping Up with the Kardashians reveals business plans of billionaire daughter Kylie Jenner saying that her daughter plans on staying in the Beauty Industry for the rest of her life and plans on passing her empire to her daughter Stormi Webster.

On Monday, beauty company Coty Inc. announced it will pay $600 million for a 51% majority stake in Kylie Cosmetics. The deal values her group at about $1.2 billion, and is set to close in the third quarter of the 2020 fiscal year. Under the terms of the agreement, Kylie and her team will “continue to lead all creative efforts in terms of product and communications initiatives.”

“She feels like this is where she belongs, this is where her passion is, since she really wants to use her creative side to develop her brand,” Kris said on CNBC on Tuesday. “And this is what she wants to do for rest of her life. She talks about it all the time. Twenty years from now, she sees herself doing this and maybe passing it down to her daughter.”

“She’s so excited about the partnership, but at the same time, this is her dream to build this beauty empire and just go into many categories that she hasn’t even scratched the surface,” Kris said. “You know, she launched [Kylie] Skin this year and she’s really excited about that and that’s been a huge success for her, and looks forward to working with Coty to develop more categories and going into other areas of the beauty business and that’s very exciting.”

Kris said the goal is “to just keep building Kylie’s existing beauty business into a global powerhouse brand.”
“That’s the vision,” she said. “And we decided to partner with Coty because they share the same vision that we do in building this into a huge thing and it’s, you know, we dream big and this is something we’re so excited about.”

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