Earlier this week Kylie Jenner stunned fans when she sold the majority of her Kylie Cosmetics brand to Coty for a whopping $600 million. Though the move was a surprising one, the self-made billionaire assured that she and her team “will continue to lead all creative efforts in terms of product and communication initiatives.” Now, her mom Kris Jenner is expanding on the reason why her daughter decided to sell the majority stake of her makeup empire, and her business plans for the future.

"She feels like this is where she belongs, this is where her passion is, since she really wants to use her creative side to develop her brand," Kris said on CNBC on Tuesday (November 19). "And this is what she wants to do for rest of her life. She talks about it all the time. Twenty years from now, she sees herself doing this and maybe passing it down to her daughter."

"She's so excited about the partnership, but at the same time, this is her dream to build this beauty empire and just go into many categories that she hasn't even scratched the surface," Kris said. "You know, she launched [Kylie] Skin this year and she's really excited about that and that's been a huge success for her, and looks forward to working with Coty to develop more categories and going into other areas of the beauty business and that's very exciting."

According to Kris, the goal of the sale was "to just keep building Kylie's existing beauty business into a global powerhouse brand."

"That's the vision," she added. "And we decided to partner with Coty because they share the same vision that we do in building this into a huge thing and it's, you know, we dream big and this is something we're so excited about."

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