Coty pledged to redeem 20% in the model-owned business for $ 200 million. As a result, Kim’s fortune may exceed the capital of her younger sister Kylie Jenner
(Фото: Dimitrios Kambouris / Getty Images)
The company Coty, which owns the brands Max Factor, Wella, Bourjois, Chloé, etc., has entered into an agreement with actress and model Kim Kardashian to acquire a stake in the cosmetics business KKW (Kim Kardashian West) Holdings that belongs to it. Under the terms of the deal, Coty will redeem 20% in KKW for $ 200 million, the deal said.
Thus, the total value of Kardashian’s business is $ 1 billion, the Financial Times notes, according to which Coty received the right to acquire a controlling stake in KKW in the future.
“Kim is truly a cult figure for the whole modern world. She is a visionary, entrepreneur, mother, philanthropist, and in addition, thanks to social networks, she has an unsurpassed ability to connect with people around the world. Its influence, combined with the experience of Coty, will enable us to fully realize the potential of its brands, ”commented Peter Harf, the head of Coty.
Lipstick and pencils, mascara, eye shadow, creams, powder, etc. are sold under the KKW Beauty brand, perfumes are sold under the KKW Fragrance brand. The volume of sales of goods under the KKW brands was not disclosed in the transaction message.
In 2019, Coty acquired 51% in Kylie Cosmetics, owned by Kim Kardashian’s younger sister Kylie Jenner. After that, Forbes magazine named 21-year-old Jenner the youngest billionaire in history, who managed not to inherit his fortune, but to earn capital on his own. Based on an estimate of 51% of Kylie Cosmetics at $ 590 million, the total cost of Kylie Cosmetics was more than $ 1.1 billion. In real time, the magazine estimates Jenner’s fortune at $ 900 million.