Kim Kardashian West’s KKW cosmetics line is worth $1 billion

After shopping for Kylie Jenner’s magnificence enterprise final January, Coty (COTY) introduced on Monday that it could purchase a 20% stake in KKW, Kim Kardashian West’s cosmetics line, for $200 million. The deal values KKW at $1 billion — barely lower than the $1.2 billion valuation of Jenner’s firm, Kylie Cosmetics.

Below the settlement, Kardashian West would retain inventive management of the corporate, whereas leveraging her more-than 300 million social media followers for “merchandise and communications initiatives.”

“This relationship will permit me to deal with the inventive parts that I am so keen about whereas benefiting from the unbelievable assets of Coty,” Kardashian West mentioned.

The deal, which is predicted to shut within the third quarter of 2021, is the most recent improvement in a newsy month for Coty. Earlier in June, the corporate fired CEO Pierre Laubies and changed him with chairman Peter Harf — its fourth chief govt in 4 years.

It additionally introduced a sequence of layoffs in 2019, and a $three billion writedown for manufacturers it acquired from Procter & Gamble (PG) in 2015.

Supply hyperlink

Leave a Reply

Your email address will not be published. Required fields are marked *