Coty and Kim Kardashian West have joined for a strategic
transaction to further develop West’s business globally. The beauty
company will help West’s business enter new beauty categories and
expand globally, while West and her team will continue leading
creative efforts.
Under this new agreement, Coty will acquire a 20 percent ownership
in West’s beauty business for a cost of 200 million dollars. Coty will
be responsible for the portfolio’s development in skincare, haircare,
personal care and nail products.
“Partnering with an established organization like Coty will be
instrumental in the advancement of my brands as their global reach
allows for faster expansion so people around the world are able to
experience new launches first hand,” West said in a statement. “This
relationship will allow me to focus on the creative elements that I’m
so passionate about while benefiting from the incredible resources of
Coty, and launching my products around the world.”
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Each party will leverage its strengths to further build the brand
into a high growth, direct-to-consumer beauty label.