Kim Kardashian West & Coty Join Forces.
Music by: Image credit: Kim Kardashian West.
It’s CULTED with your 60-second NEWS BLAST.
The Kardashians and the global beauty company Coty meet once again, as Kim K sells 20% stake in KKW beauty for $200 million! The partnership, which values KKW beauty at $1 billion, will develop KKW’s skincare, haircare and personal care, and Kim will still be in full creative control.
Speaking to WWD, Coty chairman and CEO Peter Harf says “Kim is a true modern-day global icon. This influence, combined with Coty’s leadership and deep expertise in prestige beauty will allow us to achieve the full potential of her brands.”
Of-course, having already tapped into Gen Z through Kylie Cosmetics, Coty will now be in an even stronger position with Kim’s Millennial and Gen X audience.
In a statement to WWD, Kim said “The partnership will allow us to exercise our complementary strengths — I can focus on the creative aspects that I love, and their global reach will unlock faster expansion.”
The deal is expected to close in 2021 – are you excited to see what they have in store?
Let us know, below!
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See also: KANYE WEST FILES YEEZY TRADEMARKS FOR BEAUTY AND SKINCARE
