Kim Kardashian Sells 20% KKW Beauty Line To Coty For $200 Million
Kim Kardashian is raking in big bucks and has just locked in a mega deal with Coty that gives them 20% of her KKW line for $200 million!
“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,” Kim said in a release. “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.”
Coty will expand on KKW and develop haircare nails and skincare while Kim and her team remain the creators behind the brand.
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“Kim shares our true passion for beauty products, and this acquisition allows us to leverage our respective strengths for mutual benefit and value creation,” Coty CEO Sue Y. Nabi said of the deal. “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,” Nabi added. “I look forward to working closely with Kim and her team and I’m excited by everything we will achieve together.”
Kylie Jenner locked in a similar deal by selling 51% of Kylie Cosmetics to Coty for $600 million.