Kim Kardashian West’s KKW cosmetics line is worth $1 billion
After buying Kylie Jenner, the beauty business last January, Coty (Coty) Monday announced that it would acquire 20% is held in the KKW, Kim Kardashian’s face, toward the West, to $ 200 million. The deal at $ 1 billion worth KKW – slightly less than $ 1.2 billion in company valuation Jenner, Carl cosmetics.

Under the agreement, West Kardashian to keep creative control of the company, while leveraging the more than 300 million social media followers to “products and communications initiatives.”

Unknown download from developers in a new line of beauty Yeezy

“This relationship, which does not allow me to focus on the elements while creating’m passionate about, so incredible resources benefiting from Coty,” said Kardashian to the West.

The deal, which is expected to close in the third quarter of 2021 and is the latest development in a newsy month for Coty. In early June, when the company CEO John Laubier fire and put it back in place with chairman Peter Harf – the chief executive and the fourth in four years.

It also announced a series of layoffs in 2019 and $ 3 billion in writedowns brands acquired by him Procter & Gamble (PG) In 2015.

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