Kim Kardashian Businesswoman -
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Last Tuesday, Kim Kardashian struck a hefty business deal by selling 20% of KKW Beauty to cosmetics giant Coty.
A transaction valued at 200 million dollars according to Entertainment Tonight.
“I am so proud of how the KKW brand has grown over the past four years and look forward to working with Coty on the next phase of innovation and advancement with the ability to launch new products around the world. .
This collaboration will allow me to lead the development of creative elements, which is my specialty, while benefiting from the incredible resources of a well-established company like Coty, ”the businesswoman said in a statement.
A family resemblance
Kim Kardashian is thus following in the footsteps of her little sister, Kylie Jenner, who sold 51% of her stake in Kylie Cosmetics to Coty for $ 600 million in 2019. This sale took place just before the brand expands into the market skin care, and the same is expected for KKW by 2022.
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Coty is also reportedly aiming to roll out an even wider range of products ranging from hair care and toiletries to manicures.
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