Kim Kardashian Sells Portion Of KKW Beauty, Company Now Valued At $1 Billion
It looks like Kylie Jenner might not be the only Billionaire businesswoman in the Kardashian-Jenner clan anymore. According to reports, Kim Kardashian-West’s beauty brand, KKW Beauty, is now valued at $1 billion thanks to a new deal she recently signed with the beauty powerhouse company Coty Inc. KKW Beauty was launched in 2017 by Kim Kardashian-West and has a wide range of beauty products from face and body make-up to luxury fragrances.
It’s speculated that Coty Inc. paid $200 million for a 20% stake in KKW Beauty and that the deal values Kim Kardashian-West’s beauty brand to now be at $1 billion. When speaking on her new business partnership Kim Kardashian-West said
“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.”
Coty Inc. isn’t new to working with the Kardashian-Jenner empire. This is the same corporation that purchased a 51% stake in Kylie’s Cosmetics for $600 million.
As exciting and lucrative as this new deal may be for Kim Kardashian-West it has also brought her a little trouble as well. As we previously reported, Seed (the company responsible for manufacturing, packaging, and shipping the KKW products) has filed a civil suit against Kim Kardashian-West because they don’t want the beauty influencer to possibly share trade secrets with Coty Inc. According to court documents, Seed’s trade secrets are held so scared because
“…the contracts related to its various product lines [are] essential to Seed Beauty’s competitive position in the beauty and cosmetics industry.”
What are your thoughts on Kim’s new deal? Let us know in the comments.