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| VIEW EVENT INFORMATION: Kim Kardashian |
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Kim Kardashian West Sells A $200 Million Stake Of Her Beauty Brand To Coty Inc. |
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Status: Available Now!
Type: News
Date: Tuesday 5 January 2021, 12:00 AM
Media: Forbes
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About the person Kim Kardashian:
Art: Television, Acting, Modelling
Genres: Celebrity TV, Reality TV, Socialite, TV Personality, TV Programming, Series, Television, Curvy, Instagram, Commercial, Glamour, On-Camera, Parts, Plus-Size, Promotional |
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Notable Organizations: Forbes
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| Coty Inc. has officially closed its deal with Kim Kardashian West. The global beauty conglomerate now owns 20% of KKW Beauty and Kardashian West is $200 million richer.
In a statement following the announcement Kardashian said, "I’m so proud of how the KKW brand has grown over the past four years, and I look forward to working with Coty for the next phase of innovation, advancement, and the ability to bring new launches to customers all around the world. This relationship will allow me to lead the development of the creative elements that I specialize in, while benefiting from the incredible resources of an established company like Coty."
Under this new partnership, Kardashian West will focus on the creative efforts of her brand, while Coty will work on expanding into new categories, developing skincare, haircare, personal care and nail products.
"Kim shares our true passion for beauty products, and this acquisition allows us to leverage our respective strengths for mutual benefit and value creation,” said Coty chief executive officer Sue Nabi said in a statement. "Coty brings unique IP in skincare, the scientific knowledge of the skin as reflected in our formulation know-how, while Kim brings a huge global following and unparalleled influence over consumer choice. She has a unique ability to read the latest beauty and wellness trends, while we have the expertise on global product positioning, access to a vast global distribution network, and the resources to enter new beauty categories. I look forward to working closely with Kim and her team and I’m excited by everything we will achieve together.”
Coty Inc. just took its relationship with the Kardashian/Jenners to the next level.
On Monday, June 29, the cosmetics conglomerate acquired a 20% stake in Kim Kardashian West's KKW Beauty, a deal that cost a cool $200 million. |
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