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Source: GETTY

Kylie Cosmetics Is Now Owned By Coty, Who Already Owns All Your Favorite Beauty Brands

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The world's youngest "self-made" billionaire just got a lot richer. Kylie Jenner sold a majority stake in her company, Kylie Cosmetics, to beauty giant, Coty. The 22-year-old entrepreneur made $600 million from the deal, which gives Coty a controlling 51 percent stake in the company. Don't know who the mega-company is? Aside from Kylie Cosmetics, Coty has a stake in pretty much every beauty brand you can think of. 

Coty has added Kylie Cosmetics to its very long list of brands.

Coty, Inc. has been around for a long time. Initially starting as a fragrance company, it launched its first perfume in 1904. In the 1910s, it expanded and began selling other beauty products in addition to the fragrances it had already become famous for. By the 2000s, Coty began acquiring fragrance licenses from names like Calvin Klein and Vera Wang. By 2005, it was the world's largest fragrance maker.