Kylie Cosmetics became a billion-dollar business in the transaction-era sense when Coty agreed in November 2019 to pay $600 million for a 51% stake. Coty’s price implies an approximate $1.2 billion valuation for the whole beauty business at that time—not a current valuation, and not proof of Kylie Jenner’s personal net worth. The story is one of a celebrity-linked cosmetics brand built around a breakout lip product, a strategic sale of majority control, and later dispute over the billionaire narrative.
How Kylie Cosmetics began
Coty’s November 2019 announcement dates Kylie Cosmetics’ launch to November 2015 and identifies the Kylie Lip Kit as its debut product. The brand subsequently expanded into eyeliners, eyeshadows, blushes, highlighters, concealers, brushes and makeup bags, according to Coty. Jenner introduced Kylie Skin in May 2019. Coty’s announcement described a business that had grown from a distinctive makeup launch into a broader beauty portfolio.
The brand’s current official storefront, viewed October 8, 2026, displays makeup and fragrance categories, holiday gift sets, and featured products including the Supple Glaze Hydrating Primer, Coconut Water Lip Stain and Mood Stones fragrance trio. That is a snapshot of the site, not a guarantee of continuing availability or stock in every market. The Kylie Cosmetics storefront reflects the brand’s current consumer-facing range.
What Coty bought—and what the price means
On November 18, 2019, Coty announced it would pay $600 million for 51% of the beauty partnership. Coty’s SEC filing records that the acquisition of 51% of King Kylie was completed on January 6, 2020, for a $600 million base purchase price in cash. Coty’s filing confirms the completed transaction and its stated base price.
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Dividing $600 million by 51% yields an implied whole-business value of roughly $1.18 billion, commonly rounded to about $1.2 billion. That is a transaction-era implication of the price paid for a controlling stake, not an independently established valuation for later years. It also does not tell us Jenner’s personal net worth: a company valuation is not the same as cash received, retained ownership, taxes, debt, or an individual’s total assets.
In the original announcement, Jenner said, “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.” Coty chairman Peter Harf called the partnership “an exciting step in Coty’s renewed emphasis on its beauty business.” Those were statements made as the deal was announced, expressing the partners’ stated rationale rather than independently verifying later performance.
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What the deal-era numbers do—and do not—show
Coty reported estimated trailing-twelve-month net revenues of $177 million in its November 2019 announcement. Its investor-call transcript that day also described approximately $177 million in revenue over the prior 12 months and claimed an EBITDA margin above 25%. These are Coty’s deal-era figures and presentation, not current, independently verified brand accounts. Coty’s investor materials provide the context for the company’s transaction-era statements.
The same investor-call transcript said Kylie Skin sold out in 10 hours and projected $25 million in calendar-year 2019 sales for the line. The sellout is Coty’s reported launch claim; the $25 million was a forecast, not a realized result established by these sources. Coty’s announcement also framed future revenue growth, earnings and return on invested capital as expectations. Those forward-looking statements should not be mistaken for outcomes.
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Why the billionaire story became contested
Forbes revisited the billionaire narrative in 2020 and challenged company figures underlying its earlier coverage. Its article made allegations about reported figures; those allegations should be attributed to Forbes rather than treated as independently established findings. Forbes’ 2020 account documents that dispute, but the transaction disclosures alone do not settle every contested claim or establish Jenner’s present net worth.
Three questions are easy to conflate: Coty paid $600 million for a 51% stake; that price implied a roughly $1.2 billion whole-business value at the time; and Jenner’s personal fortune is a separate calculation. The first two are supported by Coty’s dated transaction disclosures. Neither, on its own, proves the third.
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Does Kylie Jenner still own Kylie Cosmetics?
Coty’s January 2020 filing establishes that it acquired 51% of King Kylie. The sources cited here do not establish whether ownership changed after that transaction, so they are not enough to state who owns what share today. At the time, Coty said the partnership planned to continue selling through leading beauty retailers and its own digital channels; that announcement does not confirm current retailer assortments or availability.
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