Kardashian family matriarch Kris Jenner has an incredible business savvy, and all of her children seem to have inherited her sharp business sense.
Just in the past week, her youngest Kylie reminded the world of her entrepreneurship expertise by closing a major deal that made her a cool $600 million richer. The Kylie Beauty founder and CEO sold 51% of her stake in both the Kylie Cosmetics and Kylie Skin brands to multinational beauty company Coty, Inc.
Big sis and fellow entrepreneur Kim is beyond proud of Kylie’s big deal and couldn’t help but gush about the 21-year-old’s impressive hustle to ET. “I'm so proud of her," Kim said of her little sister. "To think in her early 20s, she built a business off of something that she first was insecure about and finding confidence and, you know, just tapping into that and figuring out how to make an amazing product and just being true to herself and doing what she loves to do, that's so inspiring and so amazing."
AdvertisementADVERTISEMENT
Kim also revealed that Kylie had always planned to partner with a bigger company in order to expand the potential of her brands. “A lot of companies were bidding and really wanted to buy her brand,” said the Keeping Up with the Kardashians star. “So selling just about half of it was a decision that she made about a year ago and, you know, that she wanted to."
The partnership with Coty has increased the value of Kylie’s company to a mind-blowing estimated $1.2 billion, which seems about right for the lipkit founder — after all, she wasn't deemed the youngest “self-made” billionaire by Forbes for no reason.