Coty to buy 20% stake in Kim Kardashian West’s beauty line
Kim Kardashian West sold a 20 percent stake in her beauty brand to Coty for $200 million. The deal values her business at $1 billion.
Coty will acquire 20% of KKW Beauty in this new partnership,
"We are thrilled to welcome one of the most influential beauty icons to the Coty family: @kimkardashian West!" Coty announced on Instagram on Monday. "With Kim’s influence and our deep expertise in prestige beauty we will build a beauty powerhouse and enter new beauty categories together."
Earlier this year, the beauty company also bought 51 % of Kylie Jenner's beauty business.
The deal is expected to close in the third quarter of 2021.
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