Coty-owned beauty labels Kylie Cosmetics and Kylie Skin have a new chief executive.
Beauty vetran Andrew Stanleick, who is Executive VP, Americas for the US-based conglomerate, has taken the reins of the brands founded by entrepreneur and reality sensation Kylie Jenner.
In addition to his new position, and remaining in his current role as EVP, Stanleick will also manage Jenner’s sister’s beauty business KKW Beauty, introduced by Kim Kardashian West two years after Jenner founded her brand.
The now 23-year-old established her label at just 18 years old, which, soon after launch, became a roaring success with fans as her Lip Kit range helped recreate Jenner’s signature make-up look.
Coty, four years after the launch, muscled in on Jenner’s brands – now with Kylie Skin in tow – in 2019, acquiring a 51% stake for US$600m, calculating her brands to be worth $1bn.
Meanwhile, Kardashian West soon followed in her younger sister’s make-up dusted footsteps and agreed to sell a 20% stake in her make-up business to Coty for $200m, also valuing KKW Beauty at $1bn.
The top job for Kylie Cosmetics – formerly held by Jenner, prior to Coty’s takeover, who remained frontwoman for her eponymous brand – was initially handed to former Douglas executive Christoph Honnefelder in 2020, but he never took up the role.
Prior to Stanleick’s appointment, Kris Jenner, the ‘momager’ of the Kardashian-Jenner clan, had been serving as CEO for her daughters’ businesses, and is expected to remain ‘closely involved’ in the brands’ direction.
She described Stanleick as having a “proven track record of expanding brands into global markets” and that she was “looking forward to working closely with him”.
Also commenting on his new position in the company, Coty’s group CEO Sue Nabi said: “Andrew is a very experienced and respected Coty leader who has demonstrated strong business development acumen, strategic rigor, and customer orientation.
“He is well positioned to further develop Kim and Kylie’s beauty businesses.
“This is a great opportunity for Andrew and Coty to fully leverage our global knowledge and capabilities in R&D, manufacturing, distribution, commercial and go-to-market expertise.”
Stanleick added: “It’s a great honour to assume this added responsibility and lead these iconic brands, which have played such an important role in revolutionizing the way the beauty industry works today.
“We have a clear plan in place to accelerate growth and ensure these businesses are able to continue to deliver outstanding products that are new, innovative and sustainable.
“For Kylie’s beauty business, this includes a refreshed cosmetics product assortment, an omnichannel approach, and a best-in-class DTC website and platform which will finally allow consumers to seamlessly shop the full assortment of her cosmetics and skin care products.”
Speculations of a brand overhaul for Kylie Cosmetics are currently circulating after Jenner’s brand deleted all but one Instagram post from its account earlier this month, and has remained silent ever since.
The only photo to remain on the brand’s channel, after more than three weeks of silence, reads ‘something is coming’, which has ignited suspicions among its 25 million followers that a revamp is on the horizon.