The mogul closed a $200 million deal with Coty that will expand her beauty line’s offerings.
Of all the celebrity skincare routines out there, very few are as interesting—and expensive—as Kimberly Kardashian West’s. After all, she is the one who helped popularize the “vampire facial” with a single selfie of her bloodied face in 2013. So it makes sense that the mogul is expanding her KKW Beauty brand to other offerings, including skincare.
In June, Kardashian-West sold a 20 percent stake of her KKW Beauty for $200 million to Coty. Now that the deal is officially closed, Coty is rolling out its plans to make Kim K a whole lot richer. According to WWD, Coty plans to develop skincare, haircare, personal care, and nail products at some point in 2022.
“Kim shares our true passion for beauty products, and this acquisition allows us to leverage our respective strengths for mutual benefit and value creation,” Sue Nabi, Coty’s chief executive officer, said in a statement. A trusted source in beauty, Kim K launched KKW Beauty in 2017 with contour kits before expanding to fragrance shortly after. With this deal, Nabi hopes to bring “scientific knowledge around formulation to the table, while Kardashian West will bring a massive following,” WWD explained.
Kim K isn’t the only sister in the Coty family. Coty is also the company behind Kylie Jenner’s namesake beauty brands Kylie Cosmetics and Kylie Skin. In 2019, Jenner cemented her status as a billionaire when she sold Kylie a 51 percent stake of Kylie Cosmetics—her beauty brand known for its lip kits—to Coty for $600 million.
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Source: www.elle.com
