Two years after acquiring majority stakes in KylieJenner’s beauty businesses for $600 million, Coty Inc. is making its moves to expand the brands.
Two years after acquiring majority stakes in Kylie Jenner’s beauty businesses for $600 million, Coty Inc. is making its moves to expand the brands.
“[Her resonance] is very strong,” Stanleick said. “We’ve seen that in preparation for the relaunch and a lot of the partnerships that Kylie herself has been doing with retail partners. Kylie has a strong following globally in many key markets, and we’ve already launched Australia, where we have a strong business. There are many more markets where Coty has a big following where we haven’t launched yet.
“All categories, but especially in the makeup category globally, have clearly suffered because of fewer occasions of use,” he said. “What we see coming out of that is the desire to put your best face on and invest again in makeup.”He took the helm of the business following last year’s lawsuit filed by Seed Beauty, then-manufacturer for KKW Beauty, to block the brand from leaking trade secrets to Coty in 2020. Stanleick dispelled rumors that litigation had spurred the reformulations.
Stanleick didn’t comment on the new branding, but did say that Coty is “working very closely with Kim on the launch of her new skin care, which we’ve already announced publicly will be launched in 2022.”
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