Coty Inc. has purchased a 20% stake in KKW Beauty, founded by Kim Kardashian, for $200 million after buying a 51% stake in Kylie Cosmetics last year.
Coty dropped $200 million on their stake in the three-year-old cosmetic line. According to their statement, Kardashian, along with her team, will oversee the company’s creative visions and lead social media campaigns. At the same time, Coty will assume all overall responsibility for the brand’s new offerings, such as the skincare launch, scheduled to launch in 2022.
Kardashian praised the partnership in a press release.
“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. 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.”
In early 2020, Coty purchased a 51% stake in Kylie Cosmetics for $600 million. Accusations began to arise, claiming that Coty overly inflated the value of Kylie’s brand. This resulted in a lawsuit filed by Coty shareholder Crystal Garrett-Evans.
Congrats to Kim Kardashian on securing yet another bag.