Coty Talks to Buy Kylie Cosmetics Stake Continue: Sources

The Kylie-Coty dance continues. Sources said Coty Inc.’s talks to buy a majority stake of Kylie Jenner’s Kylie Cosmetics for $600 million are continuing. And chairman Peter Harf is said to be running the process on the Coty side, indicating just how seriously the company takes the talks. Harf led Coty as chief executive officer from 1993 to 2001 and is a senior partner at JAB Cosmetics, the firm’s largest shareholder. WWD first reported word of the potential deal on June 19. Representatives for both Coty and Jenner declined to comment on Monday. Jenner is the youngest of the socially supercharged Kardashian-Jenner family and has rapidly made a name for herself in the beauty industry. She launched lip kits in late 2015 and moved on to Kylighter, Kyshadow and Kybrow while linking with sisters Kim Kardashian and Khloé Kardashian and racking up sales of $420 million in 18 months. That kind of growth was guaranteed to grab attention (and Kardashian matriarch Kris Jenner has been open to the idea of selling the business). One well-placed financial source said Jenner has been making the rounds for the past two-and-a-half years and has spoken to “all of the marquee” private equity investors, feeling them out about a possible

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