Kylie Jenner sells majority stake in cosmetics business for £460m

Reality TV star Kylie Jenner has sold a majority stake in her cosmetics business for $600m .

The 22-year-old businesswoman sold 51% of Kylie Cosmetics to make-up and fragrance giant Coty Inc, in a deal which values her company at about $1.2bn . Jenner, who appears alongside her family in the reality TV show Keeping Up With The Kardashians, was still a teenager when she launched her business in 2015 as a line of lip kits.Facebook founder Mark Zuckerberg was 23 when he made it onto the billionaire's list.Coty Inc, which owns brands including Max Factor, Rimmel and Clairol, said the deal will see Jenner"lead all creative efforts in terms of product and communications initiatives".

The multinational beauty company cited Jenner's more than 270 million social media followers across her personal and business accounts, saying she is"one of the most influential voices among beauty consumers globally".

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