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Cosmetics giant Coty has extended its ongoing collaboration with the affluent reality TV family, as it agrees to buy a fifth of Kim’s makeup brand
Kim Kardashian has made $200million after selling a fifth of her makeup brand.
Cosmetics company Coty has agreed to splash the cash on a 20% stake in brand KKW, which Kim launched in 2017.
This is not the first time Coty and the Kardashian-Jenner clan have collaborated, after 2019 saw it purchase a 51% stake in Kylie Jenner’s Kylie Cosmetics.
The new deal will value KKW at $1 billion, just under the $1.2 billion valuation it placed on Kylie’s company last year.
Sources close to the deal told The Financial Times that Coty, which also boasts a number of other makeup giants like CoverGirl and Max Factor in its portfolio, had agreed to the deal.
One of the sources added that Coty could purchase a majority stake further down the line.
Coty will be looking to develop a direct-to-consumer online sales model, paired with heavy advertising via Instagram.
Mirror Online has gone to reps of Kim for further comment.
Kim’s brand flogs lipsticks, eyeshadows, foundations and powders mostly through its website, while it’s thought the brand may soon branch out into skincare products as well.
It’s the latest in a series of recent fashion moves by the family.
Last week, Kim’s rapper hubby Kanye West confirmed a collaboration with Gap to bring an affordable new range to stores.
Kanye announced on social media that his brand Yeezy, on which he worked with Adidas, would be teaming up with the high street staple for a Yeezy Gap collaboration.
The move saw Gap shares leap by a staggering 20%.
Gap describes the new team-up as “modern, elevated basics for men, women and kids at accessible price points”.
It was also reported by TMZ that Kanye intends to get into the cosmetics game, with a glamorous range of makeup, false lashes, facial masks, nail polish and moisturisers.
Kanye recently claimed that he is a billionaire, while Kylie faced speculation by Forbes that she had faked her billionaire status – which she denies.
Showbiz editor’s picks Kim and Kanye, meanwhile, put to bed rumours that she and Kanye are heading for a split by sharing a rare PDA snap.
The pair – who tied the knot in 2014 – were rumoured to have been going through a rough patch amid lockdown.
But the two looked intimate as they shared a cuddle on what looks like their fabulous Wyoming estate.
She also shared a touching birthday tribute for his recent 43rd.
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