Kim Kardashian sells 20 percent stake in beauty brand to Coty

Kim Kardashian sells 20 percent stake in beauty brand to Coty

Kim Kardashian West has tattooed an offer to sell 20 percent of her makeup brand KKW Appeal to American cosmetics large Coty for USD200 million, the pair announced on Monday 29 of June. The contract values the three-year-old company at USD1 billion. It will see Coty take “overall responsibility” for the brand name’s skincare, hair care, personal treatment as well as nail items, they said in a declaration.

“This relationship will allow me to concentrate on the creative aspects that I’m so passionate about while gaining from the incredible resources of Coty, as well as releasing my items worldwide,” Kardashian said.

The purchase is expected to be completed in the 3rd quarter of the 2021 and sees Coty grow its cooperation with the star Kardashian-Jenner household. In January, Coty, acquired a 51 percent stake in Kylie Jenner’s cosmetics brand. Jenner is Kardashian’s half-sister. Both have actually built an elegance empire on the back of the success of the hit reality TV show “Keeping Up with the Kardashians,” which initially aired in 2007.

Kardashian has 177 million followers on Instagram while Jenner has 183 million.

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