In what will become the next important one Kardashian payout on a calendar year, Kim Kardashian West is promoting a 20% stake in her makeup company KKW Beauty for the attraction giant Coty COTY for $ 200 million. The bargain – announced today – worth KKW Beauty for $ 1 billion, making Kardashian West worth about $ 900 million based on Forbes’ prices.
The purchase, which will be completed in 2021, will leave Kardashian West KKW beauty is The vast majority of owners, with an estimated 72% stake in the company, are famous as contour markers and lotions. Forbes quotes that her mom, Kris Jenner, owns 8 percent of small businesses. (Neither Kardashian West nor Kris Jenner has responded to a request for comment for their commitment.) While Coty will focus on expanding product growth from the Color 25 domain to Coty, she remains responsible for attempts.
For this season, Kardashian West’s half-sister, Kylie Jenner, also filmed a major deal with Coty, when she offered 51 percent of her Kylie makeup at a rate of $ 1.2 billion. The deal earned Jenner a net worth of just under $ 900 million. The two KKW Beauty and Kylie Cosmetics are one of many brands, such as Anastasia Beverly Hills, Huda Beauty and more glossy, to receive ratings thanking them for their favorite marketing.
“Kim is a true modern world celebrity,” said Coty chairman and CEO Peter Harf in a statement. “This influence, along with Coty’s direction and deep experience in stature beauty, will enable us to reach the full potential of her titles.”
The deal comes just days after Seed Beauty, which develops, produces and ships KKW Beauty and Kylie Makeup, has won a temporary injunction against KKW Beauty, expecting to share secrets with Coty, which also owns brands like CoverGirl, Sally Hansen, and Remmel. On June 19, Seed filed a lawsuit against KKW Beauty seeking to protect her trade secrets from an expected deal between KKW and Coty Beauty. The temporary order given on June 26 will run until August 21. It prohibits KKW Beauty from disclosing details related to the Seed-KKW connection, such as “the terms of these arrangements, license usage information, advertising obligations, product launch and distribution, revenue sharing, intellectual property, specifications, components, formulas, programs and other details related to Seed solutions. ”
Now that Wall Street insisted it couldn’t keep up with the fancy styles and overpaid for acquisitions, coty fought over the decades. The coronavirus pandemic has hit things. Since the beginning of the calendar year, Coty’s share price has fallen by nearly 60%. The organization, which had $ 8.6 billion in revenue through June 2019, currently has a market capitalization of $ 3.3 billion. By closing deals with companies such as Kylie Makeup and KKW Beauty, Coty currently expects to renew her image and appeal.
After teaming up on a few scrubs with Kyle Makeup, Kardashian West-based KKW Beauty in 2017, Kardashian West started online but then moved to Ulta stores in October 2019, helping her earn revenue of $ 100 million in recent years. KKW Beauty is just one of many small businesses for Kardashian West: She continues to watch her family’s reality show Maintaining with the Kardashians, sell her shapewear line called Skims, and boost her mobile game Kim Kardashian Hollywood. Kanye West recently announced a deal to market a range of Yeezy apparel in Gap stores.
“I find this interesting. Now I’m inventing Kimojis and the program and each of these different thoughts, “Kardashian told West Forbes about the various business ventures in 2016.” I don’t see myself stopping. “