Kylie Jenner is an American media personality, socialite, model, and businesswoman. She has starred in the E! reality television series Keeping Up with the Kardashians since 2007. Coming from a family of actors, Olympic gold medalists and scandals, Kylie has always marked her way. She last gained massive media attention on the disclosure of her pregnancy with famous rapper Travis Scott. They together had a daughter named Stormi Webster that now like her mother has become an interest for national television. In November 2015 she started her own company as an entrepreneur of Kylie Cosmetics.
The firm is now an international multimedia cosmetics brand that has over 2 million customers over the world. Forbes had announced Kylie as one of the youngest self made billionaires in the world estimating her company to be worth of 900 Billion US Dollars. It is evident for the fact as she owns 18 different mansions that cost at least 3.5 Million US Dollars each.
A latest fiasco has now turned into horror. Forbes removed Kylie’s name from the magazine’s official title of “Billionaire”. Sources and market experts have said Kylie Jenner hyped her company’s image using false figures. She disclosed deceptive numbers that not only attracted multi million dollar investments but also thousands of customers every day. This has happened just soon after beauty giant Coty bought a 51% stake in Kylie Cosmetics. They paid her around 600 Million US Dollars. The stake holder just made a statement yesterday, ‘We will allow the company to focus on its core prestige and mass beauty businesses.’ They plan to achieve this by making changes to avoid media damage from the current scandal.
More Fuel To The Fire
However, things got more heated up when Kylie Cosmetics CEO resigned his contract just two months after joining. Christoph Honnefelder, who only joined the company in January left for ‘personal reasons’. His abdication was made public recently by company officials. Coty saw a 13% drop in its shares after the series of disasters. Forbes also accused the famous family, of which Kylie is the youngest member of, created tax returns that were ‘likely forged.’
Meanwhile, Jenner’s beauty brand will now overseen by Simona Cattaneo, president luxury brands, the statement said. After successful launch in Europe Kylie will also be involved in leadership .
