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Freshly Squeezed: 19.11.19

Reading Time: 2 mins
By Published On: November 19, 20190 Comments

Kylie Jenner sells the majority stake of her business and eBay partners with Sendle for Christmas delivery. Get a healthy dose of news as we uncover the day’s top stories in e-commerce and retail.

Kylie Jenner Sells Majority Stake of Her Business

Kylie Jenner has sold 51 per cent of her cosmetics brand, Kylie Cosmetics, for $880 million. In the first 18 months of operating, Kylie Cosmetics generated USD420 million in revenue. Since then, she has delved into eyeshadow palettes, lipsticks, skincare and other cosmetics. The company began its multichannel strategy in 2017 when it opened its first pop-up store in LA. Kylie Cosmetics is now sold in more than 1,000 Ulta stores across the United States as well as via her e-commerce platform.

In 2018, Forbes estimated that the cosmetics brand is valued at USD800 million; in May 2019, it’s estimated to be valued at about USD1.2 billion. The sale aims to diversify the product and turn Kylie Cosmetics into an ‘international beauty powerhouse’. The Chairman of Coty Beauty, Peter Harf, noted that Kylie Jenner is a ‘modern-day icon, with an incredible sense of the beauty consumer’. You can read the full article about the sale here.

eBay Partners with Sendle

eBay is partnering with Sendle for guaranteed two-day delivery times for orders via the online marketplace. The integration offers a tailored shipping solution perfectly suited to the needs of small to medium-sized online retailers, providing them with a fast, more affordable shipping option during the year’s busiest retail season. Shipping rates will start as low as $6.00 for same-city deliveries and $7.03 for national deliveries.

“eBay is the largest online shopping site in the country and is truly the heart of Australian eCommerce. With a shared commitment to helping small businesses thrive, we can’t wait to help all of eBay’s sellers build their business, particularly in the critical lead up to Christmas,” explained James Chin Moody, Co-Founder and CEO of Sendle.

Kogan Sales Grow by 18 Per Cent

Kogan has released its latest sales findings for the last quarter. According to the release, Kogan’s gross sales grew by 18.5 per cent, and gross profit grew by 22.9 per cent. “We are proud to have achieved solid growth in FY19 on what was a very strong financial year 2018 and continue to produce solid results for our shareholders. I will take this opportunity to discuss our FY19 financial highlights and provide you with a current trading update for FY20,” said Ruslan Kogan, the Founder and CEO of Kogan.

Catch up on yesterday’s Freshly Squeezed news here.

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About the Author: Power Retail

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