India, Nov. 18 -- Kylie Cosmetics and Kylie Skin is set for a growth after the cosmetics company launched by Kylie Jenner in 2015 sold a major majority stake to beauty conglomerate Coty for $600 million.

Jenner, who has been maintaining the full ownership of the company since its launch, sold 51 percent stake in Kylie Cosmetics to Coty.

Coty owns several other beauty brands including Covergirl, OPI, Rimmel, GHD and Clairol. Previously, the company had agreed to buy Proctor & Gamble's beauty brands in October 2016 for $12.5 billion.

Coty had appointed Pierre Laubies as new CEO last year and made several changes to the board. Since arriving, Laubies has been looking to unload underperforming brands such as its hair care and professional ...