US Beauty conglomerate Coty has acquired a 51% stake in Kylie Jenner's beauty brands in a US$600m deal.The owner of CoverGirl and Rimmel London will take control of the Kylie Cosmetics and Kylie Skin brands including development,R&D,manufacturing,distribution and commercial expertise.The firm will also act as a licensee for the brands'new skin care,fragrance and nail products."This new partnership between Kylie and Coty is an exciting step in Coty's renewed emphasis on its beauty business,"said Coty's Chairman of the Board,Peter Harf."Kylie is a modern-day icon,with an incredible sense of the beauty consumer,and we believe in the high potential of building a global beauty brand together."
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