Kim Kardashian West’s beauty line, KKW, has partnered with a huge cosmetic conglomerate making it one of the most highly valued cosmetics brands at the moment.
Based on reports from TMZ, Coty Inc. made a $200 million investment for a 20 percent stake in KKW, meaning that the brand is definitely worth a whopping $1 billion.
According to the agreement, Coty Inc. will act as a licensee for skin, hair, personal and nail products for the KKW brand, which at the moment makes Kim Kardashian a very rich lady.
“This relationship will allow me to focus on the creative elements that I’m so passionate about while benefiting from the incredible resources of Coty, and launching my products around the world,” Kim told TMZ
The deal between Coty Inc. and Kim Kardashian’s KKW brand has been in the works for months now
Kim and the Kardashian family have in the past had similar deals with Coty Inc just like in November 2019, when Kylie Jenner sold Coty a 51 percent stake in her hugely successful Kylie Cosmetics brand for $600 million.
However, Kim’s deal with Coty still gives her enough power to call the shots since she’s still the majority owner in regards to the KKW and the transaction between the two beauty brands is expected to close in the third quarter of 2021.
The huge deal makes the Kardashian family one of the big shots in the beauty world as they have had several deals with Coty Inc. which gives their businesses a competitive edge over other brands within the market.
Apart from Kim, her husband Kanye West is also making moves towards the beauty industry as he recently in mid-June, filed trademarks to get in on the beauty and fragrance businesses, too.
Coty Inc. is an American multinational beauty company founded in 1904 by François Coty with several subsidiaries that develop, manufacture, market, and distribute fragrances, cosmetics, skincare, nail care, and both professional and retail hair care products across the world. It also owns around 77 brands as of 2018.
Source: Wonder Wall
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