Kim Kardashian Sold Part of Her KKW Beauty Brand for $200 Million

Kim Kardashian sold part of her KKW Beauty Brand for $200 million to Coty, Inc. That’s a whopping $200 Million for Kim K.

"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," Kim said in a statement on Jan. 5. "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."

The beauty mogul has sold a 20 percent ownership in KKWBeauty to Coty Inc. The buyer, Coty Inc. – is the home to some of the world’s largest beauty brands like CoverGirl, Sally Hansen, and OPI. The famous cosmetics company is now valued at $1 Billion, according to the Financial Times, after the $200 million deal.

Photo: Kim Kardashian West | Instagram


Coty Inc. stated in a press release, about the strategic partnership, that together they will “focus on entering new beauty categories and global expansion” beyond Kim Kardashian’s existing product lines. This simply translates to development in skincare, haircare, personal care and nail products.

For Kim and her team “will lead all creative efforts in terms of product and communication initiatives, building on her remarkable global reach capabilities through social media,” according to the statement in a press release.

This deal by Coty Inc just came months after they made a separate deal with Kim’s sister, Kylie Jenner – a 51% stake in Kylie Cosmetics, for $600 million. Coty acquired a majority stake in Kylie Cosmetics, but even with the new partnership with KKW Beauty Brand, Kim Kardashian remains the majority owner of her company.

 

Coty’s Chairman and CEO Peter Harf said in a statement, “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.”

Photo: KKW Beauty | Instagram


The said acquisition of the KKW Beauty Brand is expected to close in the summer of 2021 according to Coty.

On the other hand, Kim issued a statement on the deal, based on Coty’s press release: “Partnering with an established organization like Coty will be instrumental in the advancement of my brands as their global reach allows for faster expansion so people around the world are able to experience new launches first hand.”

The beauty mogul and Keeping Up With the Kardashians star continued, “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.”

Previous Post Next Post