- Robyn Turk |
Coty and Kim Kardashian West have joined for a strategic transaction to further develop West’s business globally. The beauty company will help West's business enter new beauty categories and expand globally, while West and her team will continue leading creative efforts.
Under this new agreement, Coty will acquire a 20 percent ownership in West's beauty business for a cost of 200 million dollars. Coty will be responsible for the portfolio’s development in skincare, haircare, personal care and nail products.
“Partnering with an established organization like Coty will be instrumental in the advancement of my brands as their global reach allows for faster expansion so people around the world are able to experience new launches first hand," West said in a statement. "This relationship will allow me to focus on the creative elements that I’m so passionate about while benefiting from the incredible resources of Coty, and launching my products around the world.”
Each party will leverage its strengths to further build the brand into a high growth, direct-to-consumer beauty label.