Coty completes purchase of 20% stake in Kim Kardashian West business
Coty has completed the acquisition of a 20% ownership interest in Kim Kardashian West’s business for $200 million
In a statement, Coty said the acquisition will enable the Kardashian business to focus on entering new beauty categories and to expand globally beyond existing product lines. This includes the development of Kardashian West’s skincare line.
Sue Nabi, chief executive of Coty, said: “Kim shares our true passion for beauty products, and this acquisition allows us to leverage our respective strengths for mutual benefit and value creation. Coty brings unique IP in skincare, the scientific knowledge of the skin as reflected in our formulation know-how, while Kim brings a huge global following and unparalleled influence over consumer choice.
“She has a unique ability to read the latest beauty and wellness trends, while we have the expertise on global product positioning, access to a vast global distribution network, and the resources to enter new beauty categories. I look forward to working closely with Kim and her team and I’m excited by everything we will achieve together.”
While Kardashian West and her team will lead creative efforts relating to product and communications initiatives, Coty will have overall responsibility for the portfolio’s development.
Kardashian West said: “I’m so proud of how the KKW brand has grown over the past four years, and 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 specialise in, while benefiting from the incredible resources of an established company like Coty.”
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