Coty Inc. mentioned it’s shopping for a fifth of Kim Kardashian West’s make-up model KKW for $200 million, wagering that the fact star’s attain can increase the corporate’s direct-to-consumer magnificence manufacturers.
The fragrance-and-cosmetics firm mentioned Ms. Kardashian West, who has about 300 million followers throughout her private and model social-media channels, will proceed to steer KKW’s inventive efforts in product and communications, whereas Coty will develop the enterprise’s skincare, hair care, private care and nail-products portfolio.
The transaction values KKW, which Ms. Kardashian West based in 2017, at $1 billion. The Monetary Instances first reported the deal.
The transaction follows Coty’s buy of a 51% controlling stake in a cosmetics startup owned by Ms. Kardashian West’s half-sister, Kylie Jenner.