Kim Kardashian sells 20 percent stake in beauty brand to Coty
US media personality Kim Kardashian at the 2020 Vanity Fair Oscar Party© Jean-Baptiste Lacroix / AFPKim Kardashian West has inked a deal to sell 20 percent of her make-up brand KKW Beauty to American cosmetics giant Coty for $200 million, the pair announced on Monday.
The purchase is expected to be completed in the third quarter of the fiscal year 2021 and sees Coty deepen its collaboration with the celebrity Kardashian-Jenner family.In January, Coty, acquired a 51 percent stake in Kylie Jenner’s cosmetics brand. Jenner is Kardashian’s half-sister.
The pair have built a beauty empire on the back of the success of the hit reality TV show “Keeping Up with the Kardashians,” which first aired in 2007.Kardashian has 177 million followers on Instagram while Jenner has 183 million.
Last week, rapper Kanye West, Kardashian’s husband, announced a deal between his Yeezy fashion brand and Gap which saw the latter’s shares surge.
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