Kylie Jenner sells majority stake of her massive cosmetics company for $600 million

After four years of owning 100% of the brand, Kylie Jenner has agreed to sell a little more than half of her business to Coty.

"I'm excited to partner with Coty to continue to reach even more fans of Kylie Cosmetics and Kylie Skin around the world," said Jenner in a statement."I look forward to continuing the creativity and ingenuity for each collection that consumers have come to expect and engaging with my fans across social media."

According to a press release from the brand, this new acquisition is expected to close in the third quarter of the fiscal year 2020.

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