In big beauty news, Coty Inc. and Kim Kardashian West announced Monday that they have entered into a “strategic transaction to further develop Kardashian West’s business globally.”
As shared in a statement, “Coty and Kardashian West will focus on entering new beauty categories and global expansion beyond her existing product lines. Kardashian West and her team will lead all creative efforts in terms of product and communications initiatives, building on her remarkable global reach capabilities through social media.”
Under the transaction, Coty will acquire a 20-percent ownership interest in Kardashian West’s beauty business, KKW Beauty, for $200M. In comparison, Coty acquired a 51-percent stake in Kardashian West’s half-sister Kylie Jenner’s brands back in January.
“Partnering with an established organization like Coty will be instrumental in the advancement of my brands as their global reach allows for faster expansion so people around the world are able to experience new launches first hand,” Kardashian West said in a statement. “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.”
Find a Doctor
Find a NewBeauty "Top Beauty Doctor" Near you