entertainment

Kim Kardashian finalizes a 20 percent sale of ownership of her beauty line to Coty for $200M


Beauty company Coty Inc announced on Tuesday they have completed acquisition of a 20 percent ownership interest in Kim Kardashian‘s business for $200M. 

The strategic transaction was announced in June 2020 and successfully completed on schedule in Q3 fiscal year 2021, according to a press release from Coty.

Together, Coty and Kardashian will ‘focus on entering new beauty categories and global expansion beyond existing product lines,’ the statement read. This includes the development of her skincare line, which remains on track for an expected launch in fiscal year 2022.

New deal: Beauty company Coty Inc announced on Tuesday they have completed acquisition of a 20 percent ownership interest in Kim Kardashian's business for $200M

New deal: Beauty company Coty Inc announced on Tuesday they have completed acquisition of a 20 percent ownership interest in Kim Kardashian’s business for $200M

‘I’m so proud of how the KKW brand has grown over the past four years, and I look forward to working with Coty for the next phase of innovation, advancement, and the ability to bring new launches to customers all around the world,’ said Kim in a statement.

The 40-year-old TV star added, ‘This relationship will allow me to lead the development of the creative elements that I specialize in, while benefiting from the incredible resources of an established company like Coty.’

Kardashian is one of the world’s most influential consumer personalities, with 300M followers across her personal and brand social media channels and a large global audience. 

Coty time: The strategic transaction was announced in June 2020 and successfully completed on schedule in Q3 fiscal year 2021, according to a press release from Coty

Coty time: The strategic transaction was announced in June 2020 and successfully completed on schedule in Q3 fiscal year 2021, according to a press release from Coty

The star launched her eponymous cosmetics line, KKW Beauty in June of 2017. Since inception, KKW Beauty has introduced collections revolutionizing the direct to consumer model by selling out multiple launches.

In November of the same year, Kardashian launched KKW Fragrance. 

In October 2019, KKW Beauty entered Ulta Beauty as the exclusive retailer in the US.

In 2019, Kardashian West launched her solutionwear collection, SKIMS, as a new approach to shape enhancing undergarments. 

She first emerged as a leading star with the success of the TV series Keeping Up with the Kardashians. In late 2020, it was announced that Disney is working with the Kardashian-Jenner family on global content on its Hulu and Star platforms.

Proud mogul: 'I'm so proud of how the KKW brand has grown over the past four years, and I look forward to working with Coty for the next phase of innovation, advancement, and the ability to bring new launches to customers all around the world,' said Kim in a statement

Proud mogul: ‘I’m so proud of how the KKW brand has grown over the past four years, and I look forward to working with Coty for the next phase of innovation, advancement, and the ability to bring new launches to customers all around the world,’ said Kim in a statement

Sue Y. Nabi, Chief Executive Officer of Coty, said: ‘Kim shares our true passion for beauty products, and this acquisition allows us to leverage our respective strengths for mutual benefit and value creation. 

‘Coty brings unique IP in skincare, the scientific knowledge of the skin as reflected in our formulation know-how, while Kim brings a huge global following and unparalleled influence over consumer choice.

‘She has a unique ability to read the latest beauty and wellness trends, while we have the expertise on global product positioning, access to a vast global distribution network, and the resources to enter new beauty categories. I look forward to working closely with Kim and her team and I’m excited by everything we will achieve together.’

Kardashian and her team will lead the creative efforts relating to product and communications initiatives, building on her remarkable global reach capabilities through social media. 

Coty will have overall responsibility for the portfolio’s development (skincare, haircare, personal care and nail products), leveraging its deep understanding of the industry and its commercial and go-to-market expertise. 

Through this relationship each party will leverage its unique strengths to enhance a high growth, direct-to-consumer (DTC) first beauty brand. Products will be sold through leading luxury beauty retailers, as well as owned digital channels.     

Coty also works with Kim’s sister Kylie Jenner  

Coty is one of the world’s largest beauty companies with an iconic portfolio of brands across fragrance, color cosmetics, and skin and body care.  

She has reach: Kardashian is one of the world's most influential consumer personalities, with 300M followers across her personal and brand social media channels and a large global audience. Seen with her siblings Khloe, Rob, Kourtney and Kendall in 2020

She has reach: Kardashian is one of the world’s most influential consumer personalities, with 300M followers across her personal and brand social media channels and a large global audience. Seen with her siblings Khloe, Rob, Kourtney and Kendall in 2020



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