Coty is buying a 20% stake in Kim Kardashian West's makeup brand KKW for $200 million, the cosmetics maker said
- Coty Inc said on Monday it would buy a 20% stake in reality TV star Kim Kardashian West’s makeup brand KKW, as the cosmetics maker looks to cash in on the demand for celebrity-owned products.
The deal values West’s cosmetics line at $1 billion, slightly lower than the $1.2 billion valuation Coty put on West’s half-sister Kylie Jenner’s business when it bought a majority stake in her namesake cosmetics line in January. West, who is known for chronicling her life with her sisters on TV’s “Keeping Up with the Kardashians”, launched her makeup line in 2017, two years after Jenner’s successful foray into the beauty industry.
As part of the deal, which is expected would close in the third quarter of fiscal 2021, Coty would also develop skincare, haircare, personal care and nail products for KKW.
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Kim Kardashian West Is Worth $900 Million After Agreeing To Sell A Stake In Her Cosmetics Firm To CotyI cover the intersection of Hollywood and money—that's everything from media moguls to the highest-paid actors to YouTube stars. When my reporting isn't taking me to Hollywood restaurants and Atlanta's movie lots, I'm writing about the world's richest, including billionaires and self-made women entrepreneurs. Prior to Forbes, I wrote about media, food and education for the New York Observer, and about the New York shopping scene for Racked. Follow me on Twitter MadelinePBerg. Have tips? Send them to me anonymously at forbes.com/tips, and submit sensitive documents anonymously and securely at SafeSource.forbes.com.
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