Cashing in: Kylie Jenner sells $880 million stake in her cosmetics company

The biggest beauty companies have been on an acquisition spree in recent years as they hope to court younger shoppers with upstart brands. Estee Lauder bought its remaining two-thirds stake in Korean skin-care company Have & Be Co. for around $US1.1 billion on Monday and Japan's Shiseido spent $US845 million to buy clean beauty brand Drunk Elephant in October.

Coty shares rose as much as 4.9 per cent to $US12.49 in New York on Monday. They had already soared 82 per cent this year through Friday.Coty has been under pressure to turn its business around, having taken a $US965 million writedown this year on brands it bought from Procter & Gamble in 2015. It's in the first stages of a plan where its seeking a sale of its professional hair and nail brands, such as Wella, Clairol and OPI.

How much tax would she have to pay.

Interesting (& somewhat depressing indicator of our society) when you consider that at 15yo, Kylie Jenner had the pulling power to create a feasible business - all from her being a bit player on a vapid reality show.

God Bless America

Don't care

I’m so happy I cancelled my SMH subscription especially when I see ‘high quality journalism’ like this 🤔

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