Kim Kardashian sold some of my cosmetic brand

Ким Кардашьян продала часть своего косметического бренда

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.

Forbes

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