Kylie Jenner is kashing in.
Four years after launching her inaugural lip kits, the 22-year-old billionaire is selling a majority stake in her famed beauty business. On Monday, Coty Inc.—home to dozens of beauty brands including CoverGirl, ghd and OPI—confirmed in a press release it will be acquiring a 51 percent ownership in a partnership with Jenner for $600 million.
"Coty Inc.and Kylie Jenner announced today that they have entered into a long-term strategic partnership in order to jointly build and further develop Kylie's existing beauty business into a global powerhouse brand," the release read. "Together, Coty and Kylie will set and lead the strategic direction of the partnership, focusing on global expansion and entry into new beauty categories. Kylie and her team will continue to lead all creative efforts in terms of product and communications initiatives, building on her unrivaled global reach capabilities through social media."