Beauty giant Coty and reality TV star Kim Kardashian West have entered into a strategic partnership to develop and expand the Kim Kardashian West (KKW) beauty brand globally.
Under the agreement, Coty will acquire a 20% stake in Kardashian West’s beauty business for US$200 million. The acquisition is set to close in the third quarter of 2021.
Through the partnership, Coty will develop new categories — including skincare, haircare, personal care and nail care — for the KKW Beauty brand.
Coty will also launch the brand into new territories and develop a robust direct-to-consumer business. KKW Beauty will be sold initially through leading luxury beauty retailers and digital channels.
Kardashian West will retain creative responsibilities for product development and communication, leveraging her extensive global reach through social media. She currently has over 300 million followers on Instagram.
Coty said that the partnership will further develop the group’s beauty business as it continues to restructure in response to the global health crisis. Last January, Coty acquired a 51% stake in Kardashian West’s half-sister Kylie Jenner’s beauty business, Kylie Cosmetics, for US$600 million.
“Partnering with an established organisation 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,” said Kim Kardashian West.
“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.”
