On Monday, Kylie Jenner sold 51 percent of her cosmetics and skin care brand to Coty for $600 million, a price tag that values the enterprise at $1.2 billion.Whether we agree that she is self-made or not — and you can argue that in many ways she is mom-made — you can’t dispute where she is now, or the effect the success her business, and that of her extended family, has had on the way we shop, and even think about shopping.
Which suggests that this move may have repercussions for us all. Someday we may study them in school, but for now, it’s even more interesting to engage in the Kardashian-Jenner equivalent of fantasy football. Let’s play.Vanessa Friedman This is actually a big deal for two reasons: It not only makes Kylie, by some estimates, the first Kardashian-Jenner billionaire, it also makes her, I believe, the first Kardashian-Jenner to officially become part of the old-school fashion-beauty establishment. Milestones!
And yet part of what I have loved about watching this family build its empire(s) is the outside-the-system nature of the whole thing. At the beginning, the system kind of turned up its collective nose at them. They, of course, have been laughing their way to the bank ever since, But I wonder if this Coty-Kylie deal is going to undermine that appeal. Is it the final K-J triumph, or the beginning of the end? What do you think?