According to an article by WWD, Kris Jenner is stepping down as interim CEO of her daughter’s beauty brands, Kylie Cosmetics and Kylie Skincare.
Coty Inc. has revealed that executive vice president, Andrew Stanleick, will become the global CEO of the brands, while also overseeing the management of Kim Kardashian West’s beauty brand, KKW Beauty.
In addition, Stanleick has been promoted to Coty’s global leadership team. Kris Jenner, however, will remain on the board of King Kylie LLC, which is the joint venture between Coty and the beauty brands, and to whom Stanleick will report to in his position as CEO.
The change comes at a very important time for the business. Kylie Cosmetics will be unveiling a refreshed range this year, as well as a new direct-to-consumer platform, where shoppers will have access to the entire collection of products across colour cosmetics and skincare for the very first time. Meanwhile, Kim Kardashian West is preparing for her first foray into skincare.
“Kylie’s business was impacted by COVID-19, but it is coming out of it strongly,” Stanleick said. “The engagement is huge and the following enormous. You’re talking 230 million followers and counting just on Instagram – you’re talking levels like Nike and Starbucks.”
Stanleick will be instrumental to integrating the brands into the Coty universe, with him saying: “The key objective with both Kylie Jenner and Kim Kardashian West is partnering closely with both of them to globalise the brands and expand the categories. It is a powerful network [that] we can create together, leveraging each other’s core strengths and capabilities.
Kylie and Kim are both at the forefront of beauty trends, and what Coty can offer is our vast distribution network globally and great access to expertise in terms of beauty categories and formulas across many different categories.”
