Kim Kardashian‘s brand was just launched into another stratosphere of riches — hitting the billion-dollar mark … courtesy of a new deal with a very familiar beauty investor.
Here’s the scoop … Kim’s beauty business — with a range of products from makeup to fragrances — just received a massive influx of cash from cosmetic conglomerate Coty Inc., which forked out $200 million for a 20% stake in KKW’s biz.
Do the math and it all adds up — Coty valued Kim’s co. at $1 BILLION.
We’re told the deal is for a longterm strategic partnership to launch products in new beauty categories and expand across the globe from top to bottom.
Our sources say Coty act as a licensee for skin, hair, personal and nail products.
We’re told Kim and her team have been hammering out the deal with Coty for months — and don’t forget, Coty is the same company that bought a huge stake in Kylie‘s beauty line for $600 mil.
Kim tells us, “This relationship will allow me to focus on the creative elements that I’m so passionate about while benefiting from the incredible resources of Coty, and launching my products around the world.”
One big difference, though … Kim didn’t give up a majority stake, so she still runs the show when it comes to her brand.
Now, bear in mind … Kim’s beauty company was recently sued by another beauty company they’ve partnered with before, Seeds Beauty, which said it was worried KKW would spill their trade secrets to Coty.
While that lawsuit still has to play out in court, we’re told the Coty transaction will close in the third quarter of 2021.