According to WWD, the Coty Inc. and Kylie Cosmetics deal has officially been finalised, and Coty has appointed a former Douglas employee as CEO for the companies’ joint venture.
Hired as CEO of both Kylie Cosmetics and Kylie Skin, Christoph Honnefelder is set to assume the role “in the near future,” according to Coty. Most recently, Honnefelder drove beauty brand growth as executive vice president for assortment and purchasing, and as a member of the executive committee at Douglas, the European beauty retailer. Prior to that, he worked at German consumer goods and coffee retailer, Tchibo.
“I’m excited to welcome Christoph to the team and look forward to the continued growth of Kylie Cosmetics and Kylie Skin,” Kylie Jenner said.
Coty CEO also added: "We are pleased to complete this transaction and partner with Kylie Jenner to build a high growth, digitally native beauty brand.”
The companies have confirmed that Jenner and her team will continue to lead creative efforts in terms of product and communications initiatives, and social media outreach. Meanwhile, Coty will head up portfolio development, using its global knowledge in R&D, distribution, manufacturing, commercial and go-to-market expertise, as well as its in-depth understanding of the fragrances, cosmetics and skincare categories.