Leadership and Ownership of Kylie Cosmetics
In January, von Bayern was named CEO of Kylie Cosmetics and KKW Beauty. As CEO, she’ll liaise between the Kardashian-Jenners and Coty Inc. Von Bayern is also Coty’s chief corporate affairs officer. Laura and John Nelson’s father bought Spatz Laboratories, which manufactures Kylie Cosmetics products, in 1989. Coty and Kylie Jenner announced Christoph Honnefelder as new CEO of Kylie Cosmetics and Kylie Skin. In addition, Coty and Jenner commenced their partnership to expand Jenner’s makeup empire.
The Brand and Controversies
Kylie Cosmetics was founded by Kylie Jenner in 2015. It offers lipsticks, eyeshadow, blush, highlighters and more. Kylie also owns Kylie Clothing. Aside these brands, Kylie has several collaborations.
The lips advertising the Lip Kits belong to blogger Ashley Rosales. Before the beauty community, Ashley served in the Army as a mechanic. Jenner revealed her housekeeper and boyfriend model swatches.
In 2017, Kylie Cosmetics received backlash over the smell from the Royal Peach Eyeshadow Palette. Jenner got backlash in 2017 after launching a $360 makeup brushes set. In 2020, sales of Kylie Cosmetics dropped. Forbes pegs Jenner’s worth at $620 million in 2021. In 2019, Coty bought a 51% stake in Cosmetics for $600 million.
Current Leadership
Who is the current owner of Kylie Cosmetics?
Jenner earns around $100 million yearly, mostly from Cosmetics. Forbes dubbed her the youngest self-made billionaire at 21. She earned from modeling, endorsements, social media, and Cosmetics.
Coty appointed Andrew Stanley CEO of Jenner’s brand business. She sold half of the company for expansion globally.
Who actually runs Kylie Cosmetics?
Coty Inc., which spent $600 million for 51 percent of the brands, revealed that Andrew Stanleick, executive vice president, Americas, will also become the global CEO of Kylie Jenner’s beauty business and oversee the management of Kim Kardashian West’s beauty brand.
In 2019, beauty conglomerate Coty Inc. acquired a 51% majority stake in Kylie Jenner’s cosmetics businesses, which includes both Kylie Cosmetics and Kylie Skin brands. The $600 million deal valued her company at about $1.2 billion. As the majority stakeholder, Coty has substantial influence and control over the business operations of Kylie Cosmetics and Kylie Skin.