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According to a press release from the brand, this new acquisition is expected to close in the third quarter of the fiscal year 2020.

\"We are pleased to welcome Kylie into our organization and family,\" said Coty chief executive officer Pierre Laubies in a press release. \"Combining Kylie's creative vision and unparalleled consumer interest with Coty’s expertise and leadership in prestige beauty products is an exciting next step in our transformation and will leverage our core strengths around fragrances, cosmetics, and skincare, allowing Kylie's brands to reach their full potential.\"

The brand most recently announced an upcoming holiday collection launching on Nov. 19 that will be available exclusively at Ulta. The line will include new eyeshadow palettes, lip kits and more.

In March, Forbes named Jenner the world's youngest \"self-made\" billionaire, and the company has continued to expand.

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