Kim Kardashian West has agreed to sell a 20% stake in her make-up business KKW Beauty for $200m – yes that is a cool 3 455 210 000,00 South African Rands. The sale to Max Factor and Rimmel maker Coty values the reality TV star's company at a whopping $1bn.
Kardashian founded the company in 2017 to sell a range of beauty products that encompasses everything from lip gloss to body contouring foundation and perfume. In the short space of three years, the brand has seen tremendous growth speared on by the star's reality show, "Keeping up with the Kardashians."
Coty took to Instagram to share the good news saying,” We are thrilled to welcome one of the most influential beauty icons to the Coty family: @kimkardashian West!
With Kim’s influence and our deep expertise in prestige beauty, we will build a beauty powerhouse and enter new beauty categories together.
#Coty #CotyInc #Beauty
There is no doubt that Kim’s 300 million followers on her personal and brand social media platforms had a lot to do with the partnership.
Of the deal, Kardashian West said: "Partnering with an established organisation like Coty will be instrumental in the advancement of my brands as their global reach allows for faster expansion."
According to Sky News, the 39-year-old will continue to promote KKW Beauty online and help create new skincare, haircare, personal care and nail products with plans to expand the brand into more countries around the world.
As the aphorism goes – “the rich get richer and the poor get poorer”.
