Kim Kardashian's KKW Beauty Closes $200 Million Deal With Coty.
The deal in which Kardashian sold 20% of her beauty company to Coty was finalized on Jan.
5.
The 40-year-old entrepreneur released a statement via a press release.
I look forward to working with Coty for the next phase of innovation, advancement, and the ability to bring new launches to customers all around the world, Kim Kardashian, via press release.
The deal will help KKW Beauty in developing an upcoming skincare line and expansion of existing products.
Coty will oversee product development of haircare, personal care and nail products, among other things.
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[Kim] has a unique ability to read the latest beauty and wellness trends, .., Coty CEO Sue Y.
Nabi, via statement.
... while we have the expertise on global product positioning, access to a vast global distribution network, and the resources to enter new beauty categories, Coty CEO Sue Y.
Nabi, via statement.
Kardashian's sister, Kylie Jenner, also struck a deal with Coty in November 2019.
She sold the company 51% of her Kylie Cosmetics and Kylie Skin brands for $600 million
