Coty Inc. has a new – and very high-profile – partner. The global beauty giant has paid $200 million (about £162 million) for a 20 per cent stake in Kim Kardashian West’s beauty business: a deal that signals big things for the ever-growing KKW empire.
While staggering, the deal remains notably smaller than the one struck between Coty and Kardashian West’s sister, Kylie Jenner – a move no doubt influenced by the risk of a creeping global recession. Fuelled by the frenzy surrounding her ubiquitous Lip Kits, the conglomerate acquired a majority 51 per cent stake in Kylie Cosmetics for $600 million (about £490 million) last November.
“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,” said Peter Harf, Coty Chairman and Chief Executive Officer, of the new deal. “This influence, combined with Coty’s leadership and deep expertise in prestige beauty will allow us to achieve the full potential of her brands.”
Kardashian West’s existing beauty categories include fragrance – notably the debut Body, which comes housed in a bottle based on her famous hourglass silhouette – as well as a lucrative colour cosmetics line, which was born in 2017 with one famous cream contour stick. Interestingly, the new deal also covers categories the 39-year-old has not yet entered, including skincare, hair care and personal care.
So, what’s next for the original influencer? It seems we won’t be waiting long to find out.
From Harper’s Bazaar UK