Kylie Jenner replied to Forbes' claims that she 'likely forged' tax return documents to make her appear richer.
In the report, the outlet points to the paperwork from Kylie Cosmetics' 2019 sale to Coty as the proof that Kylie's business"is significantly smaller, and less profitable, than the family has spent years leading the cosmetics industry and media outlets, including, about a year after Kylie launched her brand in 2015, her publicists began campaigning to get her to appear on the cover of the magazine, just like her sister, Kim Kardashian West, had in 2016.
The outlet and the experts they approached found the numbers"hard to believe" because they claimed the company grew"from nothing to $300 million in sales in a single year." instead valued Kylie's worth at $41 million for its 2017 list, which put the reality star in the 59th spot and left her mom, Kris Jenner,"so frustrated," according to the outlet.
According to the Jenners, in 2017, sales were up to $330 million, a number that experts considered "totally possible." Based on that number and the tax returns that appeared to back it up, Kylie covered the July 2018 of Then came the sale to Coty, which valued Kylie's company at $1.2 billion when it purchased 51 percent.
According to the outlet, in a 2019 call with stock analysts, Coty said that Kylie Cosmetics brought in $177 million in the year prior, which, they said, was a growth of 40 percent. Those valuations didn't match up with the Jenner family's claims, which, at one point, valued Kylie Cosmetics at about double that.speculated that the discrepancy could be due to Kylie's business falling"by more than half in a single year.
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