The partnership between Kylie Jenner and leading beauty conglomerate Coty has officially commenced. The young beauty entrepreneur sold 51 percent ownership of her brand to Coty in November to further develop the brand as a global powerhouse brand.
Jenner and Coty announced this week that their partnership has officially started, and both parties are working to drive the next steps of growth for the brand. The first step in the strategy is the appointment of Christoph Honnefelder to the role of CEO of Kylie Cosmetics and Kylie Skin. He will help drive global expansion and entry into new beauty categories. Honnefelder most recently served as EVP for assortment and purchasing and as a member of the executive committee at European beauty retailer Douglas.
“I’m excited to welcome Christoph to the team and look forward to the continued growth of Kylie Cosmetics and Kylie Skin,” Jenner stated.
Coty has not yet announced when Honnefelder will join the company; a press statement describes the start date as "in the near future."
Jenner will continue to lead her team in all creative efforts for product and communications initiatives for the Kylie brand, focusing on her global reach capabilities through social media. Coty will maintain overall responsibility for the portfolio's development through a focus on manufacturing, distribution, commercial and go-to-market expertise.
“We are pleased to complete this transaction and partner with Kylie Jenner to build a high growth, digitally native beauty brand," said Pierre Laubies, CEO of Coty.
Picture: Kylie Cosmetics Facebook