The American group, which is losing momentum, has decided to sell the beauty business of the famous American influencer. However, it continues to work with the brand of her younger sister, Kylie Jenner.
Kim Kardashian is breaking free from Coty for her beauty products while the American group is streamlining.
On March 22, Coty announced “the conclusion of its partnership with Kim Kardashian and the SKKN by Kim brand (”SKKN”), via ‘the finalization of the sale of its 20% stake in the brand to SKIMS’.
As the head of Kim Kardashian’s beauty business at Coty, Anna von Bayer thanked the celebrity ‘for this partnership’.
SKKN by Kim was born in 2022 from the merger of Kim Kardashian’s KKW Beauty and KKW Fragrance cosmetics and perfume lines.
“At the end of the transaction,” the amount of which has not been specified, Skims, which has also bought Kim Kardashian’s 80% majority stake in SKKN, ‘will bring the beauty and lifestyle companies together under a single brand,’ the company said in a statement.
From shapewear to lifestyle
Co-founded in 2019 by Kim Kardashian and Jens Grede, originally specializing in shapewear, Skims will now bring together under its single banner all the activities of the celebrity, of which it will have all the intellectual and commercial property rights. It will thus be able to create a homogeneous platform, similar to what the successful singer Rihanna is already doing with her brand Fenty.
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Read also > Coty has a slightly downbeat first half of the year
Featured photo: © SKKN by Kim
