Kim Kardashian has revealed a surprising fact about Kylie Jenner’s decision to sell half of her beauty business.
On Tuesday, the reality star confirmed that she’s sold 51% of her beauty brand, Kylie Cosmetics, to Coty Inc.
Kylie’s older sister Kim has spoken out about the sale for the first time, and admitted Kylie decided to sell her majority share last year.
Speaking to Entertainment Tonight, Kim said: “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.”
Kim gushed: “I’m so proud of her. To think, in her early twenties, she built a business off of something that she first was insecure about, and finding confidence and 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.”
After the sale hit headlines earlier this week, Kylie’s momager Kris Jenner said: “We decided to partner with Coty because they share the same vision as we do in building this into a huge thing. We dream big and this is something we’re so excited about.”
“This is her baby and this is her dream, to build this beauty empire and just go into many categories that she hasn’t even scratched the surface.”
“She looks forward to working with Coty to develop more categories and going into other areas of the beauty business,” Kris continued.
“She feels like this is where she belongs. This is where her passion is and she wants to really — wants to use her creative side to develop her brand. And this is what she wants to do for the rest of her life.”
“[Kylie] talks about it all the time. Twenty years from now she sees herself doing this and maybe passing it down to her daughter [Stormi].”
