Beauty line “Coty” has agreed to buy a 20 percent stake in Kim Kardashian West’s make-up brand KKW for $200m, just months after the American multinational beauty company closed a $600m deal with her sister, Kylie Jenner.
According to the Financial Times, the deal values Kim’s cosmetics company at $1bn, slightly lower than the $1.2 billion valuations Coty put on West’s half-sister Kylie Jenner’s business when it bought a 51 percent stake last year.
By buying only a minority stake in KKW this time, Coty does have the option to later acquire a majority stake in KKW, said one of the people familiar with the deal terms.
Simona Cattaneo, president of Coty luxury brands, said the deal would help accelerate change at the company: “Coty is committed to becoming more focused and strategic as it transforms over the coming weeks and months.”
The announcement comes days after Kim’s husband Kanye West revealed that his fashion brand Yeezy had signed a 10-year deal with Gap.
Kimberly Kardashian West born October 21, 1980 is an American media personality, socialite, model, businesswoman, and actress. Kardashian first gained media attention as a friend and stylist of Paris Hilton but received wider notice after a 2002 sex tape, Kim Kardashian, Superstar, with her then-boyfriend Ray J was released in 2007
Later that year, she and her family began to appear in the E! reality television series, Keeping Up with the Kardashians (2007–present). Its success soon led to the creation of spin-offs including Kourtney and Kim Take New York (2011–2012) and Kourtney and Kim Take Miami (2009–2013).
Kim Kardashian has developed an online and social media presence, including hundreds of millions of followers on Twitter and Instagram.
She has released a variety of products tied to her name, including the 2014 mobile game Kim Kardashian: Hollywood, a variety of clothing and products, the 2015 photo book Selfish and her eponymous personal app.
Her relationship with rapper Kanye West has also received significant media coverage; the couple married in 2014 and have four children together.
As an actress, Kardashian has appeared in films such as Disaster Movie (2008), Deep in the Valley (2009) and Temptation: Confessions of a Marriage Counselor (2013).
Time magazine included Kardashian on their list of 2015’s 100 most influential people, while Vogue described her in 2016 as a “pop culture phenomenon.” Both critics and admirers have described her as exemplifying the notion of being famous for being famous. She was reported to be the highest-paid reality television personality of 2015, with her estimated total earnings exceeding US$53 million.
In recent years, Kardashian has focused on her own businesses by founding KKW Beauty and KKW fragrance in 2017. In 2019 she launched Skims which was previously called Kimono but the name was changed due to immediate backlash.
In May 2014, Kardashian was estimated to be worth US$45 million. In 2015, Forbes reported she had “made more this year than ever as her earnings nearly doubled to $53 million from 2014’s $28 million”, and reported that she “has monetized fame better than any other”.
Much of her income includes wholesale earnings of the Sears line, the Kardashian Kollection, which brought in $600 million in 2013 and the Kardashian Beauty cosmetics line, Kardashian-branded tanning products, the boutique-line DASH, as well as sponsored social media posts which are collectively worth $300,000-500,000 per post.
As of July 2018, Kardashian is worth US$350 million. Combined with husband Kanye West’s net worth of $1.3 billion, their total household net worth is an estimated $510 million, making them one of the richest couples in the entertainment industry. Kardashian does not receive alimony payments from either of her first two marriages.
She has also become more politically active by lobbying president Donald Trump for prison reform and lobbying for Alice Marie Johnson to be granted clemency.
Kardashian is also planning to become a lawyer by doing a four-year law apprenticeship that is supervised by the law firm #cut50 at which Van Jones is a partner.