Kris Jenner, after Kylie’s big Coty splash, open to deals for her other kids’ businesses

Kris Jenner is open to possible deals for her other kids’ businesses after beauty giant Coty agreed to pay $600 million for a majority stake in Kylie Cosmetics, founded by her daughter Kylie Jenner.

“There’s always that possibility as the businesses grow,” the matriarch of the Jenner-Kardashian empire told CNBC on Tuesday.

Asked whether private equity firms looking consolidate their brands were calling since Monday’s Coty announcement, Kris Jenner said, “You know, a girl doesn’t talk about everything.”

Under the Coty deal, Kylie Jenner would keep 49% of her eponymous cosmetics company.

“The goal is to keep building Kylie’s existing beauty business” and branch out into “many categories where she hasn’t even scratched the surface,” said Kris Jenner

Earlier this year, Forbes added 22-year-old Kylie Jenner, a businesswoman, model and reality TV star, to its billionaires list, calling her the “youngest self-made billionaire ever.”

The family has leveraged the success of their longrunning TV show, “Keeping Up With the Kardashians,” through social media, which has helped develop their handful of beauty, lifestyle and fashion brands. Kim Kardashian West, for example, owns KKW Beauty and recently-launched shapewear brand SKIMS.

“I can’t think of a better match than Kim and her SKIMS business,” Kris Jenner said in Tuesday’s “Squawk Box” interview. “She’s just dreamed about this for a decade … and she lives it and breathes it.”

However, that passion, Kris Jenner said, does make it harder for the family to hand their businesses over. “If they do grow the business and they’re able to sell something and keep having a hand in it, that’s the ideal situation.”

This entry was posted in Stocks. Bookmark the permalink.

Leave a Reply