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Coty in talks to buy majority stake in Kylie Jenner's cosmetics company

Coty is in talks to buy a majority stake in Kylie Cosmetics from Kylie Jenner for at least $600 million, according to Women's Wear Daily.

Why it matters: The recent controversy over whether or not Kylie Jenner is a "self-made" billionaire obfuscates the fact that she quickly built a beauty products powerhouse that could soon live under the same corporate umbrella as CoverGirl and Sally Hansen.

The bottom line: "Kylie Cosmetics made a splash when it first launched with lip kits in 2015. ... In the first 18 months, it did $420 million in sales. Since then growth has slowed, sources said, which prompted the brand to enter Ulta Beauty." — WWD