Coty, the American beauty conglomerate, and media personality and entrepreneur Kylie Jenner have officially finalized their long-term strategic partnership. In addition to this exciting news, they have also announced the appointment of Christoph Honnefelder as the new CEO of Kylie Cosmetics and Kylie Skin. Honnefelder brings with him a wealth of experience from his previous positions at Douglas and Tchibo, as well as an impressive educational background.
The partnership between Coty and Kylie Cosmetics was initially announced in November 2019, with Coty acquiring a majority stake of 51% in the brand. The goal of this collaboration is to transform Kylie Cosmetics into a global powerhouse. Despite the acquisition, Kylie Jenner and her team will continue to lead the creative aspects of both brands, overseeing product development and communications. Coty, leveraging its expertise in research and development, manufacturing, and distribution, will provide support for the growth and development of Kylie Cosmetics and Kylie Skin.
Pierre Loubies, CEO of Coty, expressed his satisfaction with the completion of the transaction and the opportunity to partner with Kylie Jenner in building a high-growth, digitally native beauty brand. While specific dates for Honnefelder’s assumption of the CEO position have not been announced, the appointment is expected to take place in the near future. This strategic partnership between Coty and Kylie Cosmetics is poised to bring exciting advancements to the beauty industry, as they collaborate to expand the reach and success of both brands.