Kylie Jenner Sells 51 Percent of Her Makeup Company to Coty

is making a major business move.

As part of the deal, Coty acquired 51 percent of Jenner's brands, Kylie Cosmetics and Kylie Skin, for $600 million. Though she no longer has majority ownership, according to the press release, Kylie and her team"will continue to lead all creative efforts in terms of product and communication initiatives."

"This partnership will allow me and my team to stay focused on the creation and development of each product while building the brand into an international beauty powerhouse," she added.

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