Manufacturer of cosmetic products Coty plans to buy 20% stake in the company, Kim Kardashian West KKW Beauty. The company produces cosmetics and perfumes. The amount of the transaction amounted to $200 million: thus, the whole company Kardashian is estimated at $1 billion.
The deal should be completed early next year. Kim Kardashian will remain the majority shareholder with a share of 72%.
According to sources of the newspaper Financial Times, the Coty has the opportunity afterwards to acquire a controlling stake in KKW. No details on sales or profits KKW was not disclosed.
According to Forbes, the mother of Kim Kardashian, Kris Jenner, owns 8% of business. According to representatives of Coty, she will remain responsible for the creative strategy, while Coty will focus on expanding product development outside the sphere of decorative cosmetics.