Since its launch in June 2017, Kim Kardashian West’s beauty brand KKW Beauty has gone from strength to strength. The socialite is now selling a 20 percent share in the cosmetics company for a cool $US200 million, a deal that values the makeup brand at $US1 billion.
The new co-owner of KKW Beauty will be none other than Covergirl owner Coty, which last year also purchased a 51 percent stake in a makeup and skincare line masterminded by Kardashian West’s sister, Kylie Jenner. “Kim is a true modern day global icon. This influence, combined with Coty’s leadership and deep expertise in prestige beauty will allow us to achieve the full potential of her brands,” said Coty CEO Peter Harf.
Well-known for her stint in the reality TV show Keeping Up with the Kardashians, the 39-year-old has done a great job promoting KKW Beauty to her social media followers, who now number in the hundreds of millions.
“This is significant, as Coty’s other brands, such as Max Factor and Sally Hansen, just don’t have the same social media reach as Kim Kardashian. In the cosmetics industry, where appearance is everything, the difference between Max Factor’s 585,000 Instagram followers and Kardashian’s 158 million is crucial,” says beauty expert from GLAMOURPILOT.
The partnership with Coty stands to benefit both the company and the TV star. The plan now is to launch new products, such as shampoos and skincare, and expand the brand into more countries. According to Coty, Kardashian West will continue to hold the creative reins that have made the brand such a success.
Kardashian West’s notorious husband, Kayne West, has recently announced that his Yeezy fashion brand has started designing a line for the Gap—a company West has worked for as a teenager. And while the line remains in the design phase, it is expected to be available online next year.
Image: Wikimedia Common – Kim Kardashian