Coty buys 20% of KKW Beauty’s shares for $200 million

11 January 2021

In a commercial agreement concluded on Tuesday 5 January, Kim Kardashian sold 20% of the shares of his company KKW Beauty to Coty, for the modest sum of 200 million dollars.

The cosmetics giant had already planned to integrate the famous Kim brand in June 2020. The objective of this new partnership is to integrate and develop new categories, notably skin care, which is scheduled to be launched in 2022.

“Kim shares our true passion for beauty products, and this acquisition allows us to leverage our respective strengths for mutual benefit and value creation” Coty CEO Sue Nabi told WWD.

Coty will therefore have overall responsibility for the development of the portfolio, including skin, hair, personal care and nail care. Kim Kardashian and her team will continue her conquest of social media thanks to her notoriety and will therefore lead the creative side in terms of communication.

“Coty brings a unique intellectual property in skin care, the scientific knowledge of the skin as reflected in our formulation know-how, while Kim brings enormous global reach and unparalleled influence on consumer choice. She has a unique ability to read the latest trends in beauty and wellness, while we have the expertise in global product positioning, access to a vast global distribution network and the resources to enter new beauty categories” continues the CEO.

Note that in 2019, Coty had already acquired 51% of Kylie Cosmetics from Kylie Jenner for $600 million. This sale took place just before the brand expanded into the skin care market, so history seems to be repeating itself with Kim Kardashian. Kim Kardashian expressed her enthusiasm for the collaboration in a press release.

“I am so proud of the way 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”.

Featured Photo : © Press

What's Your Reaction?

Excited

Happy

In Love

Not Sure

Silly

LUXUS +

[EN] CLAIRE DOMERGUE, A SPECIALIST IN COMMUNICATION IN THE LUXURY SECTOR, HAS SURROUNDED HERSELF WITH EXPERTS TO CREATE THE FIRST MEDIA DEDICATED TO THE ECONOMIC NEWS OF LUXURY AND FASHION. THE LATTER DRAWS THE ATTENTION OF ITS READERS TO ALL THE MAJOR PLAYERS IN THESE SECTORS WHO SHARE THEIR EXPERIENCES, VISIONS AND KNOW-HOW. MORE THAN A SPECIALIZED WEBZINE, LUXUS PLUS IS A MULTI-SECTOR INFORMATION SYSTEM, WHICH HAS BECOME THE REFERENCE MONITORING TOOL FOR LUXURY AND FASHION PROFESSIONALS. OUR NEWSLETTERS CONTRIBUTE TO MAKE OUR READERS AWARE OF THE CHANGES AFFECTING THE LUXURY INDUSTRIES. THANKS TO AN INCREASED WATCH AND AN EXCELLENT KNOWLEDGE OF THE SECTOR, WE ARE INTERESTED IN THE MAIN ECONOMIC AND TECHNOLOGICAL STAKES OF FASHION, FINE WATCHMAKING, JEWELRY, GASTRONOMY, COSMETICS, PERFUMES, HOTELS, PRESTIGIOUS REAL ESTATE...********[FR] Claire Domergue, spécialiste de la communication dans le secteur du luxe, s’est entourée d’experts pour créer le premier média consacré à l’actualité économique du Luxe et de la mode. Ce dernier attire tout particulièrement l’attention de ses lecteurs sur l’ensemble des acteurs majeurs de ces secteurs qui y partagent leurs expériences, visions et savoir-faire. Plus qu’un webzine spécialisé, Luxus Plus est un système d’information multi-sectoriel, devenu l’outil de veille de référence pour les professionnels du luxe et de la mode. Nos newsletters de veille contribuent en effet à sensibiliser nos lecteurs aux mutations qui touchent les industries du luxe. Grâce à une veille accrue et à une excellente connaissance du secteur, nous nous intéressons aux principaux enjeux économiques et technologiques de la mode, la haute horlogerie, la joaillerie, la gastronomie, des cosmétiques, parfums, de l’hôtellerie, l’immobilier de prestige…