It looks like Kim Kardashians pockets are only getting bigger, and this time its the value in her makeup brand, KKW, that is getting a huge increase.
According to Business Insider, the multinational beauty company Coty has agreed to buy a 20% stake in Kim Kardashians makeup line KKW for a total of $200 million. The deal will bring the value of Kims company to $1 billion.
If you can recall, last year, Coty is the same company that purchased a majority stake of Kylie Jenners makeup brand, which they purchased for $600 million, which made her beauty company worth $1.2 billion.
Earlier this month, Coty mentioned that they were in talks with Kim about a potential collaboration for the beauty line.
Kim, who launched her beauty brand back in 2017 said to TMZ, “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.”
The KKW line has grown throughout the years and now features a wide range of lipsticks, foundations, eyeshadow palettes, eyeliners, lip liners, and much more.
As mentioned before, Coty isthe parent company to many household brands such as OPI, Covergirl, Sally Hansen, Clairol, Wella, GHD, and Rimmel London. They are also the fragrance partner for Calvin Klein, Chloe, Bottega Veneta, Balenciaga, Burberry, Gucci, and Marc Jacobs.
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TSR STAFF: Jade Ashley @Jade_Ashley94
