Stormi Webster may only be 1-years old, but she’s definitely set for life, as it’s been revealed Kylie Jenner plans to give her the reigns to her billion-dollar business one day.
Momager Kris Jenner recently opened up to CNBC’s Squawk Box where she commented her youngest’s daughters plans for the future. The purpose of the interview was to discuss Kylie’s most recent (and likely biggest) beauty deal to date. Earlier this week, it was reported the makeup mogul signed 51 percent of her company Kylie Cosmetics to beauty conglomerate Coty for a cool $600 million. Coty owns brands such as Rimmel London, OPI, CoverGirl and Clairol.
Kris explained Kylie definitely wants to keep expanding her business into the future, as this is what she’s most passionate about career-wise. “She feels like this is where she belongs. This is where her passion is and she wants to really — wants to use her creative side to develop her brand,” the mother-of-six explained. “This is what she wants to do for the rest of her life.” She added that Kylie hopes her 21-month old daughter will also get into the business one day, making it a family venture. “[Kylie] talks about it all the time. Twenty years from now she sees herself doing this and maybe passing it down to her daughter,” Kris said.
Even though Kylie has less than 50% of a stake in her company, as compared to the previous 100% she held, the socialite and her team will have full control over product development, creative efforts, and communication. Kris went on to explain that this business move is part of the goal to globalize Kylie Cosmetics, which is currently estimated to be worth $1.2 billion.
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Happy birthday to our beautiful Dream girl!!! You are such an angel and I adore you! From the moment you were born you stole my heart and everyone else’s around you. You have the most beautiful smile and adorable laugh and I love you so so much... you are such a blessing love bug. 💕💕
“I think the goal is to just keep building Kylie’s existing beauty business into a global powerhouse brand. That’s the vision,” Kris revealed. “We decided to partner with Coty because they share the same vision as we do in building this into a huge thing. We dream big and this is something we’re so excited about.”
Kris also hinted that this will allow Kylie to expand her brand (she most recently launched Kylie Skin, which has been a huge hit). “This is her dream to build this beauty empire and just go into many categories that she hasn’t even scratched the surface,” the proud mother said.