Wednesday, 15 July, 2020

Kim Kardashian sells 20 percent stake in beauty brand to Coty

Coty takes 20% stake in Kim Kardashian West’s beauty brand KKW, valuing it at $1-billion Kim Kardashian West sells stake in beauty brand for US$200M
Adrian Cunningham | 01 July, 2020, 04:14

"We all share your joy, Kanye - this is EXACTLY the news everyone wanted as the world is being ravaged by a global pandemic & economic disaster", British television presenter Piers Morgan tweeted in response to West's congratulatory post. I can't believe you are 7.

Kim Kardashian West has inked a deal to sell 20 percent of her make-up brand KKW Beauty to American cosmetics giant Coty for $200-million, the pair announced on Monday.

Kanye West, a U.S. rapper-cum-entrepreneur, has congratulated Kim Kardashian, his media personality wife, claiming that she had just officially become a billionaire. "You've weathered the craziest storms and now God is shining on you and our family".

"So blessed this is still life". Jenner is Kardashian's half-sister. "We love you so much".

On Tuesday, the "Ye" singer took to his Twitter page to congratulate his wife, who doubles as a reality TV star, claiming she has joined the ranks of billionaires.

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The Keeping Up With The Kardashians star has sold a stake in her beauty brand to Coty cosmetics company for $200 million (£162m), in a deal that values her business at $1 billion (£813m), and the rapper has marked her success with a weird tribute.

The partnership comes just months after Coty closed a $600 million deal with Kim Kardashian's sister, Kylie Jenner.

West, whose own net wealth is estimated by Forbes at US$1.3 billion, last week struck a 10-year deal with Gap for a new line based on his Yeezy leisure clothing brand.

Recently, rumours were rife that Kim and Kanye have been facing trouble in their marriage. A birthday party isn't complete without a cake, and the final photo of the post shows North blowing out a No. 7 candle on her cake, which was shaped like a purple cowgirl hat.