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Kim Kardashian West sells $200m stake in cosmetics brand

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  • Kim signs a deal for Coty Inc to purchase 20% of her KKW beauty empire for $200m 
  • The deal is for a ‘longterm strategic partnership to launch products in new beauty categories and expand across the globe from top to bottom’  
  • Coty bought a majority stake in her sister Kylie Jenner’s beauty company, (51%) in 2019, for $600million, which would value her wealth at $1.2billion
  • Earlier this year Kanye was officially described as a billionaire, and is reportedly worth $1.26 billion 

Reality TV star Kim Kardashian West has sold a $200m ($160m) stake in her cosmetics business to the French beauty giant Coty.

“Kim is a true modern day global icon,” said Coty CEO Peter Harf in a statement.

Kim Kardashian West is selling a stake in her beauty brand for $200 million, a deal that values the reality TV star’s three-year-old makeup business at $1 billion.

The 39-year-old will remain the creative force behind KKW Beauty, according to a Coty press release announcing the deal.

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Happy Sunday

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Written by nationscoops

↯Nation Scoops specializes in reporting on global news stories—including politics, entertainment, faith, business

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