Coty has consented to purchase a 20 percent stake in Kim Kardashian West’s make-up brand KKW for $200m, only months after the American global magnificence organization settled a $600m negotiation with her sister, Kylie Jenner.
As indicated by the Financial Times, the arrangement esteems Kim’s beautifying agents organization at $1bn, somewhat lower than the $1.2 billion valuations Coty put on West’s stepsister Kylie Jenner’s business when it purchased a 51 percent stake a year ago.
By purchasing just a minority stake in KKW this time, Coty has the alternative to later obtain a dominant part stake in KKW, said one of the individuals acquainted with the arrangement terms.
Simona Cattaneo, president of Coty luxury brands, said the deal would help accelerate changes at the company: “Coty is committed to becoming more focused and strategic as it transforms over the coming weeks and months.”
The announcement comes days after Kim’s husband Kanye West revealed that his fashion brand Yeezy had signed a 10-year deal with Gap.