In News by Oluwaseun Samuel on the 29th, June, 2020

Kim Kardashian Sells 20% Stake Of Her Magnificence Line For $200m, Rising The Worth Of Her Model To $1Billion

Kim Kardashian Sells 20% Stake Of Her Beauty Line For $200m, Increasing The Value Of Her Brand To $1Billion

Kim

Kim Kardashian

Coty has agreed to purchase a 20 p.c stake in Kim Kardashian West’s make-up model KKW for $200m, simply months after the American multinational magnificence firm closed a $600m cope with her sister, Kylie Jenner.

In accordance with the Monetary Occasions, the deal values Kim’s cosmetics firm at $1bn, barely decrease than the $1.2 billion valuations Coty placed on West’s half-sister Kylie Jenner’s enterprise when it purchased a 51 p.c stake final 12 months.

By shopping for solely a minority stake in KKW this time, Coty does have the choice to later purchase a majority stake in KKW, stated one of many individuals aware of the deal phrases.

Simona Cattaneo, president of Coty luxurious manufacturers, stated the deal would assist speed up adjustments on the firm: “Coty is dedicated to changing into extra centered and strategic because it transforms over the approaching weeks and months.”

The announcement comes days after Kim’s husband Kanye West revealed that his style model Yeezy had signed a 10-year cope with Hole.

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