Legal Feud Alert: Kylie Cosmetics Gets Sued By Seed Beauty!: The 22-year-old Kylie Jenner falls into the ‘self-made’ billionaire list. Kylie rose to fame with the reality TV show- Keeping up with the Kardashians.
At the age of 16, Jenner started her cosmetic line- Kylie Cosmetics which is now appreciable, mainly for its lipsticks all over the world. But as they say, when you are successful, hardships arrive early.
Similarly, Kylie cosmetics received a lot of support from their manufacturers- Seed Beauty since 2016. But unfortunately, due to some unformidable circumstances, Seed Beauty is suing Kylie Jenner.
Let us get into the details of Seed Beauty and Kylie Cosmetics.
Seed Beauty Sues Kylie Cosmetics
Confidentiality is the source of good trades. Yet, our 22-year-old billionaire doesn’t seem to grasp the concept of it. To be more eloquent- Seed Beauty is suing Coty Cosmetics and King Kylie i-e Kylie Jenner’s beauty brand to prevent misappropriation of trade secrets.
In late November 2019, Kylie sold half of her company to Coty Cosmetics. In the deal, Jenner sold 51% of the company for $600 Million, which involves around $1.6 Million of Kylie Cosmetics.
Since 2016, Seed Beauty has been helping Kylie in improving their products and giving them the secret formula. Regardless, it seems like Kylie has forgotten all about it.
Kylie’s Deal With Seed Beauty And Coty Cosmetics
Seed Beauty played a crucial role in getting Kylie to the top of the list i-e getting Kylie to become a billionaire. Seed claims that Kylie’s beauty boom is because of their trade secrets.
But as we already know, Kylie signed a lucrative deal with Coty. Considering Coty and Seed being mortal enemies, Seed is at risk of Coty finding out their trade secrets.
Leading up to the argument, Seed says that Kylie Cosmetics refused to assure Seed that their secrets will be safe. Seed directly assumed that Coty is going to use their spilt out secrets to boost their company’s profit margin.
Kylie Jenner Is No Longer A Billionaire?
We are well aware that the elder Kardashian sister recently became a billionaire. Does this mean Kylie is not a billionaire? Well, after selling 51% of her brand to Coty Cosmetics, Kylie Cosmetics has come a bit lower.
Naturally, beauty brands and stars have faced this scrutiny in the past, we know, that the ‘self-made’ billionaire will rise like a phoenix!