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Home STOCKS Coty to buy 20% stake in Kim Kardashian West's splendor line: Report

Coty to buy 20% stake in Kim Kardashian West’s splendor line: Report

Coty Inc has agreed to buy a 20% stake in truth Television set star Kim Kardashian West’s make-up manufacturer KKW for $200 mln, the Economic Situations reported on Monday, citing persons common with the matter.
The deal values West’s cosmetics enterprise at $1 billion, slightly lessen than the $1.2 billion valuation Coty put on West’s half sister Kylie Jenner’s company, the report mentioned.
Before this month, Coty disclosed that it was in talks with West in excess of a opportunity collaboration for the beauty line.
The enterprise has a vast majority stake in Jenner’s makeup and skincare line, which it purchased very last yr for $600 million.
West, who is recognized for chronicling her existence with her sisters on TV’s “Trying to keep Up with the Kardashians”, released her individual makeup line in 2017, two decades following Jenner’s profitable foray into the natural beauty business.
Coty did not quickly reply to Reuters’ ask for for remark just after business hours.

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