In a Wednesday conversation with Entertainment Tonight, the SKIMS Solutionwear founder raved about 22-year-old Jenner’s recent majority sale of Kylie Cosmetics to beauty conglomerate Coty, which owns a bevy of other beauty brands including Covergirl, OPI and Clairol.
“I’ve known that selling her business was always in the works for her for a long time,” said Kardashian West, 39. “A lot of companies were bidding and really wanted to buy her brand, and so selling just about half of it was a decision that she made about a year ago and, you know, that she wanted to. I’m so proud of her.”
The sale saw Jenner let go of 51 percent of her company for $600 million. Prior to the sale, the Kylie Cosmetics founder had maintained full ownership of the brand since its 2015 launch.
“To think, in her early 20s, she built a business off of something that she first was insecure about and finding confidence and tapping into that, and figuring out how to make an amazing product … just being true to herself and doing what she loves to do, that’s so inspiring and so amazing and I’m so proud of her,” Kardashian West added.
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Days after Jenner’s big sale, her older sister opened up about her own booming beauty business. While there have been reports about prestige cosmetics sales declining this past year, Kardashian West said her own companies, KKW Beauty and KKW Fragrance, were doing better than ever.
“I’m very active during sales and launches,” the mom of four said in an interview with WWD. “We’ve doubled in a year. It just makes me proud of the brand and makes me want to push to do exactly what I want to do and continue to make the products that I love and stay true to the authentic collaboration.”
Kardashian West was already gearing up for her next big launch: a second collaboration with her longtime makeup artist, Mario Dedivanovic, called KKW x Mario: The Artist & Muse collection, on sale Friday. According to WWD, KKW x Mario’s first product line, which debuted in 2018, was the brand’s biggest launch that year.
RELATED VIDEO: Kris Jenner Discusses Daughter Kylie Selling Majority Stake of Kylie Cosmetics for $600 Million
“Yesterday was a really big day for Kylie and our team at Kylie Cosmetics. [It was] truly a moment for our family to be proud,” said Kris, 64, who’s also CEO of Jenner Communications. “It’s kind of a crystallization of all our work.”
She also called the sale “a moment to just look forward and be really excited about the future,” sharing that her youngest daughter was looking “forward to working with Coty to develop more categories and going into other areas of the beauty business.”
“I think the goal is to just keep building Kylie’s existing beauty business into a global powerhouse brand. That’s the vision,” Kris continued. “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.”