Kylie Jenner sells stake in cosmetics company for $600m

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Kylie Jenner will sell the majority of her cosmetics company for $600 million (£463 million).

The 22-year-old’s brand, including Kylie Cosmetics and Kylie Skin, will be controlled by beauty giant Coty.

Kylie says she is building the brand into an “international beauty powerhouse”.

Forbes reported that she made $360 million in sales in 2018, making her the youngest self-made billionaire ever.

The chairman of Coty’s board called Kylie a “modern-day icon, with an incredible sense of the beauty consumer”.

Her online influence is so powerful that she reduced Snapchat’s stock market value by $1.3bn (£1bn) when she tweeted that she does not use the app anymore.

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