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Coty Inc agreed to buy a 20% stake in reality show star Kim Kardashian West’s make-up brand KKW for $ 200 million, the Financial Times reported Monday, citing people familiar with the matter.
The deal values West’s cosmetics company at $ 1 billion, slightly lower than the $ 1.2 billion valuation Coty put in the business of West’s half-sister, Kylie Jenner, according to the report.
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Earlier this month, Coty revealed that she was in talks with West about a possible collaboration for the beauty line.
| Heart | Security | Latest | Change | Change% |
|---|---|---|---|---|
| COTY | COTY INC. | 4.18 | -0.18 | -4.13% |
The company has a majority stake in Jenner’s makeup and skincare line, which she bought last year for $ 600 million.
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West, known for recounting her life with her sisters on television’s “Keeping Up with the Kardashians,” launched her own makeup line in 2017, two years after Jenner’s successful foray into the beauty industry.
Coty did not immediately respond to Reuters’ request for comment after business hours.
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(Report by Maria Ponnezhath in Bangalore; Devika Syamnath edition)
