Kim Kardashian Sells 20% Stake of KKW Beauty to Coty for $200 Million

Get push notifications with news, features and more.According to the official release, Coty will help Kardashian West expand the brand into more categories including skincare, haircare, personal care and nail products while also bringing the items into more global markets. Kardashian West and her team will continue to lead all creative efforts of product and communications initiatives, especially through her massive reach on social media .

"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," Kardashian West said in the release. "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," she continued.

Coty's Chairman and Chief Executive Officer Peter Harf believes the acquisition, which is scheduled to close in the third quarter of fiscal year 2021, will help KKW Beauty reach its full potential.“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," Hard said.

Looks like kimkardashian is coming for KylieJenner ‘s crown again 💰💰💰💰

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