Coty and Kylie Jenner Commence Strategic Partnership
January 06 2020 - 4:15PM
Business Wire
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.
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version on businesswire.com: https://www.businesswire.com/news/home/20200106005914/en/
Investor RelationsOlga Levinzon, +1
212 389 7733olga_levinzon@cotyinc.comMedia –
for CotyAndra Mielnicki, +33 7 76 14 69
58Andra_Mielnicki@cotyinc.comLisa Kessler, +1 917 348
3373Lisa_Kessler@cotyinc.comMedia – for Kylie
JennerChristy Welder, +1 212 995 2147cwelder@fullpic.com
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