Nov 18, 2019

Kylie Jenner to sell 51% of Kylie Cosmetics to Coty for $600 million

Kylie Jenner at the 2019 Grammy Awards. Photo: Valerie Macon/AFP via Getty Images

Kylie Jenner announced Monday that she is selling 51% of Kylie Cosmetics for $600 million to Coty Inc., the company that owns CoverGirl and Clairol, per the Wall Street Journal.

Why it matters: Coty valued Kylie Cosmetics at $1.2 billion and is wagering that the celebrity’s personal brand and social media influence can revive its struggling beauty business.

What she's saying: "I am excited to partner with Coty to continue to reach even more fans of Kylie Cosmetics and Kylie Skin around the world. ... This partnership will allow me and my team to stay focused on the creation and development of each product while building the brand into an international beauty powerhouse," Jenner said in a statement.

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The ballad of Taylor Swift and Kylie Jenner

Photo Illustration: Aaron J. Thornton/Getty; Angela Weiss/Getty; Aïda Amer/Axios

This was the week that Kylie Jenner ratified her billionaire status beyond any doubt, even as fellow 20-something Taylor Swift found herself continuing to battle The Man over rights to her own work.

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Saks Fifth Avenue owner in limbo after ISS recommendation

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Institutional Shareholder Services recommended that Hudson's Bay Co. shareholders vote against a C$1.9 billion, or C$10.30 per share, takeover offer led by company chairman Richard Baker.

Why it matters: Hudson's Bay was already drowning in limbo, and this might pull away its life preservers. ISS argues that there's no legitimate reason for shareholders to accept Baker's bid, which also includes Rhone Capital and WeWork Industrial Trust, over an C$11 per share offer from Catalyst Capital Group.

Go deeperArrowDec 9, 2019

The new power brokers in sports media

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The sports media landscape has shifted significantly over the past few months, with flagship sports brands falling victim to layoffs, shutdowns and consolidation, while newer players report strong growth.

Driving the news: Minute Media, a holding group that owns other digital websites — including sports sites like 90min and The Big Lead — announced last Thursday that it had acquired Derek Jeter’s Players Tribune. Deal terms were not disclosed.

Go deeperArrowNov 26, 2019