After Kylie Jenner, Coty strikes a multi-million beauty deal with half-sister Kim Kardashian West; to acquire $200mn stakes in KKW Beauty
After Kylie Jenner, Coty Inc deepens its ties with ‘KarJenner’ empire by bringing Kim Kardashian West on board with a multi-million beauty deal. On Monday, Coty announced its partnership with the makeup mogul to expand her beauty line KKW Beauty further and expand it globally.
The newly introduced categories will include skincare, haircare, personal care, and nail products. Not just this, Coty plans to acquire 20% of the stake for $200mn. This deal is expected to be closed in Q3 of 2021.
"Kim is a true modern-day global icon. She is a visionary, an entrepreneur, a mother, a philanthropist, and through social media has an unparalleled ability to connect with people around the world. This influence, combined with Coty's leadership and deep expertise in prestige beauty will allow us to achieve the full potential of her brands," Peter Harf, Coty’s chairman and CEO said in his statement as reported by fashionista.com
Speaking about this alliance, Kim stated that this partnership would be instrumental for the advancement of her brand. "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."
We are excited about what’s next in the store for KKW beauty…are you?