Kylie Jenner is selling her 51% stake in her eponymous makeup line, Kylie Cosmetics, for $600 millions to mega beauty conglomerate, Coty, Inn. She will remain on as creative director and her team will still handle communications for the brand. Read the statement that was released regarding the sell.

“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. (CNN Business)

The partnership will help Kylie’s brand expand globally and enter new beauty categories, the two companies said in a press release Monday. (CNN Business)

Cover Image Credit: Kylie Cosmetics