Kim Kardashian’s Beauty Brand Reaches Billion-Dollar Status After Deal With Coty
According to a Monday report by the Financial Times, Kim Kardashian West just snagged a big deal for her beauty brand.
RELATED: Kylie Jenner Sells $600 Million Stake In Beauty Business To Coty!
Earlier this month, Coty disclosed that it was in talks with Kim over a potential collaboration for the beauty line. It‘s now being reported that Coty Inc has agreed to actually buy a 20% stake in the reality TV star’s makeup brand KKW for $200 million. The deal now values West’scosmetics company at $1 billion.
Coty said Monday that it expects the acquisition to be complete in the third quarter and that all the products will be sold through luxury beauty retailers as well as online. The partnership comes just a few months after Coty locked in a $600 million deal with Kim Kardashian’s little sister, Kylie Jenner. While speaking with TMZ, Kim said, “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.”
As the news site notes, Kim didn’t give up a majority stake like her little sis, so she still runs the show when it comes to her beauty business. Her latest deal also comes just days after her hubby Kanye West’s fashion brand “YEEZY” locked in a 10-year deal with retailer GAP.
RELATED: Kanye West And GAP Strike 10-Year Deal For ‘YEEZY GAP’ Clothing Line
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