contactmusic: Kim Kardashian West is ”so proud” of Kylie Jenner after she sold a majority stake in her cosmetics company for $500 million last week.
Kim Kardashian West is ”so proud” of Kylie Jenner after she sold her cosmetics company for $500 million.
The 22-year-old reality star sold a majority stake in her Kylie Cosmetics and Kylie Skin brands to beauty giant Coty – which owns around 77 brands including Hugo Boss, Burberry, Rimmel and Max Factor – last week and her older half-sister thinks her sibling is ”inspiring and amazing”.
She gushed: ”I’m so proud of her. To think in her early 20s, she built a business off of something that she first was insecure about and finding confidence and, you know, just tapping into that and figuring out how to make an amazing product and just being true to herself and doing what she loves to do, that’s so inspiring and so amazing and I’m so proud of her.”
And Kim revealed Kylie had been planning for over a year to sell the 51 % stake in her company.
She added to ‘Entertainment Tonight’: ”I’ve known that selling her business was always in the works for her for a long time.
”A lot of companies were bidding and really wanted to buy her brand, and so selling just about half of it was a decision that she made about a year ago and, you know, that she wanted to.”
Meanwhile, Kim and Kylie’s mother and manager, Kris Jenner, recently insisted her youngest daughter – who has 21-month-old daughter Stormi with Travis Scott – will keep working at the company for the rest of her life because it’s her ”dream”.
She said: ”Yesterday was a really big day for Kylie and our team at Kylie Cosmetics. Truly a moment for our family to be proud. It’s kind of a crystallisation of all of our work, but also a moment to just look forward and be really excited about the future. I think the goal is to just keep building Kylie’s existing beauty business into a global powerhouse brand. That is the vision.
”This is her baby and this is her dream … She hasn’t even scratched the surface … She feels like this is where she belongs. This is where her passion is and she really wants to use her creative side to develop her brand. This is what she wants to do for the rest of her life. She talks about it all the time.
”Twenty years from now, she sees herself doing this and maybe passing it down to her daughter.”
Source: Published by contactmusic