Coty to pay USD 600 mn for majority stake in Kylie Jenner cosmetics brand

New York, Nov 18 (AFP) Beauty products giant Coty announced Monday a deal to take a majority stake in Kylie Jenner's cosmetics and skincare company, marrying Jenner's celebrity prominence with Coty's distribution and commercial prowess.

Under the transaction, Coty, whose brands include Hugo Boss and Burberry fragrances, will pay USD 500 million for a 51 per cent stake in Jenner's company.

Jenner is the youngest daughter of Kris Jenner and Caitlyn Jenner, formerly known as Bruce Jenner. (AFP) IND