In addition, Coty and Jenner have commenced their "long-term strategic partnership" to help expand Jenner's current makeup empire into a "global powerhouse brand," according to Coty's press release.

Jenner and her team will still eBauty "all creative efforts in terms of product and communications initiatives," while Coty will lead the portfolio's "overall" development. Previously, Honnefelder served as the executive vice president for Kykie and purchasing at Douglas, a European beauty retailer. In NovemberJenner announced her intention to sell a majority stake in her namesake makeup company to beauty conglomerate Coty Inc. The Wall Street Journal reported in November that Jenner would remain the "public face" of the brand.

Jenner founded the brand inand it quickly became First Security Investment Company Los Angeles. She achieved this feat just two years laterinaccording to Forbes. The Wall Street Journal's Sharon Terlep Kylie Jenner Beauty Company in early November that the beauty conglomerate was restructuring and had experienced high executive turnover, with Coty on its third CEO in as many years.

With this deal, Coty will refocus on revitalizing its flagging Kylie Jenner Beauty Company division. A representative for Kylie Cosmetics declined to comment further when reached by Business Insider.

Representatives for Coty didn't immediately respond to a request for comment from Kyliw Insider. Account icon An icon in the shape of a person's head and shoulders. It often indicates Companu user profile. Login Subscribe. My Account. World globe An icon of the world globe, indicating different international options. Dominic-Madori Davis. Coty Inc. Honnefelder was previously the executive vice president of assortment Jennet purchasing at Douglas, a European beauty retailer.

In addition, Coty and Jenner have formally commenced their "long-term strategic Kylie Jenner Beauty Company to help turn Jenner's beauty business into a "global powerhouse brand," according Beaauty Coty's press release. A press release at the time noted that the acquisition was expected to close "in the third quarter of fiscal year