Coty Inc. (NYSE:COTY) and Kylie Jenner announced today that they have
completed the transaction to create a long-term strategic partnership in
order to jointly build and further develop Kylie’s existing beauty
business into a global powerhouse brand.
To drive the next steps of growth, including global expansion and entry
into new beauty categories, the parties are pleased to announce
Christoph Honnefelder will assume the role of CEO of Kylie Cosmetics and
Kylie Skin in the near future. Most recently, Christoph drove beauty
brand growth as Executive Vice President for Assortment & Purchasing and
a member of the Executive Committee at Douglas, a leading European
specialty beauty retailer with more than 2200 doors. Prior to Douglas,
Christoph spent nine years at German consumer goods and coffee retailer
Tchibo in various senior management positions and began his career at
The Boston Consulting Group.
“I’m excited to welcome Christoph to the team and look forward to the
continued growth of Kylie Cosmetics and Kylie Skin,” said Kylie Jenner.
Pierre Laubies, Coty’s Chief Executive Officer, said, “We are pleased to
complete this transaction and partner with Kylie Jenner to build a high
growth, digitally native beauty brand.”
Kylie and her team will continue to lead all creative efforts in terms
of product and communications initiatives, building on her unrivalled
global reach capabilities through social media. Coty will have overall
responsibility for the portfolio’s development, leveraging its global
knowledge and capabilities in R&D, manufacturing, distribution,
commercial and go-to-market expertise, as well as its deep understanding
of the fragrances, cosmetics and skincare categories. The company
intends to continue to work with the current strategic partners in
existing product categories.
About Coty Inc.
Coty is one of the world’s largest beauty companies with an iconic
portfolio of brands across fragrance, color cosmetics, hair color
and styling, and skin and body care. Coty is the global leader in
fragrance, a strong number two in professional hair color & styling, and
number three in color cosmetics. Coty’s products are sold in over 150
countries around the world. Coty and its brands are committed to a range
of social causes as well as seeking to minimize its impact on the
environment. For additional information about Coty Inc., please visit www.coty.com.
About Kylie Jenner
Kylie Jenner is one of the world's most-followed people on social
media with a combined following of over 270 million users and counting.
Featured as the youngest-ever self-made billionaire on the cover of
Forbes Self-Made Billionaire issue in August 2018, Kylie is a successful
entrepreneur, beauty mogul, fashion designer, author, TV personality and
style icon. In November 2015, Kylie launched her cosmetics brand, Kylie
Cosmetics, inspired by her love for makeup and passion for business. The
debut product, the Kylie Lip Kit, was a sell-out success and her
eCommerce site KylieCosmetics.com is one of the most successful online
stores in the world today. Kylie has expanded the collection beyond lip
products to include offerings like eyeliners, eyeshadows, blushes,
highlighters, concealers, brushes, and makeup bags as well as creating
limited edition sets launched throughout the year. Following the
success of the cosmetics brand, Kylie introduced Kylie Skin, a range of
skincare products in May 2019. Kylie has a fashion brand with her
sister, the Kendall + Kylie Collection, as well as her website,
KylieJennershop.com, which features merchandise and accessories.
View source version on businesswire.com: https://www.businesswire.com/news/home/20200106005914/en/