Kim Kardashian West sells 20% stake of her beauty line to Coty for $200m, increasing the value of her brand to $1billion

1
210
Read Time:58 Second

American beauty company, Coty has agreed to buy a 20 percent stake in Kim Kardashian West’s make-up brand KKW for $200m, just months after the American multinational beauty company closed a $600m deal with her sister, Kylie Jenner. 

Loading...

ALSO READ: Nigerians react after Actress Funke Akindele’s ex staff calls her out for allegedly being wicked and abusive

According to the Financial Times, the deal values Kim’s cosmetics company at $1bn, slightly lower than the $1.2 billion valuations Coty put on West’s half-sister Kylie Jenner’s business when it bought a 51 percent stake last year. 

By buying only a minority stake in KKW this time, Coty does have the option to later acquire a majority stake in KKW, said one of the people familiar with the deal terms. 

Simona Cattaneo, president of Coty luxury brands, said the deal would help accelerate changes at the company: “Coty is committed to becoming more focused and strategic as it transforms over the coming weeks and months.”

The announcement comes days after Kim’s husband Kanye West revealed that his fashion brand Yeezy had signed a 10-year deal with Gap.

0 0
Happy
Happy
0 %
Sad
Sad
0 %
Excited
Excited
0 %
Sleppy
Sleppy
0 %
Angry
Angry
0 %
Surprise
Surprise
0 %

1 COMMENT

LEAVE A REPLY

Please enter your comment!
Please enter your name here