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Overview

Alicia and George break down Coty's $600M acquisition of Kylie Cosmetics and debate the real value of influencer marketing.

Key Points

The Deal:

• Coty paid $600M for 51% at $1.2B valuation (2019)
• Bought Kylie's name, image, and all future beauty ventures—forever
• Forbes called her "self-made billionaire," then retracted it
• Real value: $340M, not $900M

What We Discuss:

• Did Coty buy a business or just an influencer?
• Why the "evergreen deal" was genius for Coty
• Founder lessons: tax structure, the control illusion, valuation reality
• Is influencer marketing dying or evolving?
• Why tracking conversions is broken

George's Hot Take: Influencers are just commercial actors. The platforms make billions while most creators get scraps.

Why It Worked: Coty needed Gen Z relevance. They got a replicable model and rights to every beauty product Kylie ever creates.

Episode Sponsor: Relive Health - Modern wellness clinic in Gaithersburg

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