Global cosmetics company Coty Inc. will acquire a 20% ownership interest in Kim Kardashian West's beauty business KKW Beauty for $200m.
Credit: KKW Beauty via Instagram
The strategic transaction will see Coty and Kardashian West focus on building a high-growth, direct-to-consumer beauty brand by entering new beauty categories and driving global expansion beyond the existing product lines.
Kardashian West and her team will lead all creative efforts in terms of product and communications initiatives, building on her global reach capabilities through social media. Coty will have overall responsibility for the portfolio’s development in skincare, haircare, personal care and nail products, leveraging its understanding of the industry and its commercial and go-to-market expertise.
Coty says in a statement that the transaction is another step in its renewed emphasis on its beauty business and ongoing transformation into a more agile, focused company. In January, Coty also acquired a 51% stake in Kardashian West’s half-sister Kylie Jenner’s brands.
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Kardashian West is one of the world’s most recognised personalities with 300 million followers across her personal and brand social media channels.
Peter Harf, Coty chairman and chief executive officer, says, “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. This influence, combined with Coty’s leadership and deep expertise in prestige beauty will allow us to achieve the full potential of her brands.”
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Kardashian West comments, “Partnering with an established organisation 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. 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.”
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