News of Coty’s $600-million purchase of 51% of the runaway Kylie Cosmetics brand took the industry by storm. The transaction to create a long-term strategic partnership—to jointly build and further develop Kylie’s existing beauty business into a global powerhouse brand—is now complete.
 
To drive the next steps of growth, including global expansion and entry into new beauty categories, the two parties have announced that Christoph Honnefelder will assume the role of CEO of Kylie Cosmetics and Kylie Skin “in the near future.”
 
Most recently, Honnefelder drove beauty brand growth as executive vice president for Assortment & Purchasing and a member of the executive committee at Douglas, a leading European specialty beauty retailer with more than 2,200 doors. Prior to Douglas, he spent nine years at German consumer goods and coffee retailer Tchibo in various senior management positions and began his career at The Boston Consulting Group.
 
“I’m excited to welcome Christoph to the team and look forward to the continued growth of Kylie Cosmetics and Kylie Skin,” said Kylie Jenner.
 
Pierre Laubies, Coty’s chief executive officer, said, “We are pleased to complete this transaction and partner with Kylie Jenner to build a high growth, digitally native beauty brand.”
 
Kylie and her team will continue to lead all creative efforts in terms of product and communications initiatives, building on her unrivalled global reach capabilities through social media. Coty will have overall responsibility for the portfolio’s development, leveraging its global knowledge and capabilities in R&D, manufacturing, distribution, commercial and go-to-market expertise, as well as its deep understanding of the fragrances, cosmetics and skincare categories. The company intends to continue to work with the current strategic partners in existing product categories.


PHOTO: Christoph Honnefelder and Kylie Cosmetics product