Kim Kardashian sells 20 Percent of her Beauty Line to Coty for $200M

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KUWTK star and Socialite,Kim Kardashian,has finalised her deal with Beauty Company, COTY INC. In 2020, news broke out that Kim was following in the footsteps of her younger sister Kylie Jenner who sold off 51percent of her company to the Beauty Giant for $600M. Now, COTY have fully have 20% ownership of KKW Beauty.

This transaction was announced by the Beauty Company through its press release. Together, Coty and KKW seek to expand the Brand’s products to include a skincare line which is set to launch in 2022.

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Kim in a statement revealed how elated she was to partner with them as she is sure this new deal will bring advancement to her company.

She said: “ I’m so proud of how the KKW brand has grown over the past 4 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.”

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She added,”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.”

This partnership sees Coty handling her brand’s portfolio development (skincare,haircare,personal care and nail products), marketing and commercial ventures While Kim and her team are you focus on Product creativity and communications initiatives.

 

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