Following in the footsteps of her younger sister, Kylie Jenner, Kim Kardashian West has officially sold a 20 per cent stake in her cosmetics line to beauty giant, Coty. The $200 million dollar deal values the KKW Beauty brand right at a billion dollars, which is just shy of Jenner's $1.2 billion.
The new strategic partnership will bring with it not just new makeup, but also skincare, haircare, nail products, and more.
“Partnering with an established organisation 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," Kardashian West said in a statement.
"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.”
The deal is expected to close later this year, and there's no word yet on when the KKW hair, nail, or skin products are expected to launch.
"Coty will have overall responsibility for the portfolio’s development in skincare, haircare, personal care and nail products, leveraging its deep understanding of the industry and its commercial and go-to-market expertise. Through the relationship each party will leverage its unique strengths to further build a high growth, direct-to-consumer beauty brand," read the brand statement.
However the deal doesn't come without drama, as BD reported KKW Beauty is allegedly being sued by its manufacturer, Seed Beauty, in order to block the brand from leaking trade secrets to Coty.