Coty buys 20% of Kim Kardashian’s beauty products for $ 200 million
The American cosmetics group Coty took a 20% stake in Kim Kardashian West’s beauty products, valuing this activity of the reality star, businesswoman and wife of Kanye West at $ 1 billion.
Coty will pay $ 200 million and together the cosmetics group and Kim Kardashian West “will focus their efforts to enter new product categories and lead global expansion beyond its existing product lines,” said a statement from. Coty.
Kim Kardashian West and his team “will lead all creative efforts in terms of product and communication initiatives, building on their remarkable ability to speak to a global audience through social media,” said Coty.
In fact Kim Kardashian has built an empire by exploiting the phenomenal success of the reality series “Keeping Up with the Kardashians”, which since 2007 immerses viewers in the lives of mother and sisters Kardashian and Jenner.
It can boast of having 177 million followers on Instagram alone and 300 million on all of the platforms where it is present.
This is Coty’s second investment in the phenomenon created by the Kardashian – Jenner family.
In January already, Coty had bought 51% of the shares in the brands of Kylie Jenner, a top model, half-sister of Kim.
Coty explains that the investment announced on Monday is part of its refocusing on beauty products.
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