The youngest billionaire, Kylie Jenner recently made headlines as she became richer by almost USD 600 million by selling the majority of her stake (51%) in Kylie Cosmetics.The youngest of the Kardashian-Jenner family, Kylie has made some power business moves since she first started her beauty brand.
However, her fans don’t think that it’s a good move. Commenting on an Instagram picture, her fans write, ‘I really don’t see how it’s smart to sell percentage of your company for money… now she doesn’t own but 49% of the brand SHE created and 600 millions are not that much money, especially considering the way make-up products cell in our times… She could’ve made that money in a couple years while still owning her brand…’
A second fan wrote, ‘I don’t think that’s a good business idea’ another comment mentioned, ‘omg bro why would she let another company become majority owner’
Amidst all the criticism received by fans for this decision by Kylie Jenner, her mother and manager, Kris Jenner has revealed that she was proud of her daughter for taking such a huge step.In an interview, Kris 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 crystallization of all our work.”
The head of Jenner Communications went on to reveal the roadmap for the company ahead, “It’s 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’s the vision. 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.”