The beauty and cosmetics group is acquiring a 20% stake in Kim Kardashian West's beauty brand at a $1bn valuation in connection with a partnership agreement.
Beauty product and fragrance group Coty agreed on Monday to pay $200m for a 20% stake in KKW Beauty, the beauty brand formed by celebrity Kim Kardashian West.
Founded in 2017, KKW produces make-up and skincare products in addition to lipsticks and lip liners. It also sells fragrances through subsidiary KKW Fragrance and has begun producing shape-enhancing undergarments under the Skims brand.
The investment comes in the form of a commercial partnership whereby Kardashian West’s team will retain control of…
