Social media influencer Kim Kardashian sells a 20 per cent stake of her KKW Beauty brand to Coty, a leading name in the beauty sector.
Worth $200M, the deal sees the KKW Beauty brand’s valuation reach the $1bn mark and the deal will see Coty oversee the portfolio’s development in skincare, personal care, haircare and nail products.
“This influence, combined with Coty’s leadership and deep expertise in prestige beauty will allow us to achieve the full potential of her brands,” said Peter Harf, Chairman and CEO at Coty.
“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,” said Kim Kardashian West.
The $1bn valuation of the brand has been reached very quickly, as it was only founded in 2017, but with her position in the social media sector, and with beauty products ranging from lip gloss and foundation to perfume, the brand is set to continue growing quickly.
