Coty brings new exec to Kylie Cosmetics as deal closes
Coty's $600 million strategic partnership with Kylie Jenner to build and develop her beauty business is officially underway. The transaction underlying the partnership — of which Coty is 51% owner — is complete and Coty already is taking action to set Jenner's brands on a path to growth.
The company has appointed a new CEO to Kylie Cosmetics and Kylie Skin — Christoph Honnefelder.
Honnefelder recently worked with Douglas as executive vice president for assortment and purchasing, as well as an executive committee member for the beauty retailer.
“I’m excited to welcome Christoph to the team and look forward to the continued growth of Kylie Cosmetics and Kylie Skin,” Jenner said.
Jenner and her team will continue to lead creative efforts in the product and communication spaces, and Coty will have overall responsibility for the portfolio’s development and leveraging its global knowledge, the company said.
“We are pleased to complete this transaction and partner with Kylie Jenner to build a high growth, digitally native beauty brand,” said Coty CEO Pierre Laubies.