The famous American media personality Kim Kardashian has sold 20 percent of her beauty brand KKW to Coty for $200 Million. The agreement got finalized on Tuesday. The deal was announced in June 2019. Kim’s beauty brand will now expand its territory and will explore new areas. However, Kim and her team will remain the creative visionaries. Coty will look after brand development with forays into personal care, hair care, and nail products.Image Credit: Elle
Last year, Kylie Jenner signed a deal with Coty for $600 Million and sold a 51 percent share of Kyle Cosmetics. Now, Kim Kardashian has signed a deal with Coty and has sold off her 20% shares. However, Kim, along with her team, will be the creative visionaries. They will utilize social media for global outreach. It seems like that the Kardashian-Jenner family is grabbing megabucks from their beauty brands. Kylie became $600 million richer. Now, Kim is $200 Million richer. The rich and famous family is utilizing their influence and making megabucks. They have signed the deal with a French cosmetic company. Peter Harf, the CEO of Coty, has said that Kim is truly a modern icon. Kylie boasts more than 200 Million followers, while Kim boasts around 197 million followers, and they will utilize their influence to boost their respective beauty brands.
Kim Kardashian’s KKW beauty brand closes a $200 Million deal with Coty. Kim is now $200 Million richer, and her net worth has increased by signing the new lucrative deal. After Kylie Jenner, it is the second deal the Kardashian-Jenner family has signed with Coty. Kylie sold off 51% shares to Coty last year for $600 Million. After the deal, Kylie had also become top-earning celebrities in 2020. Now, Coty has signed a new deal with Kim Kardashian, but the reality star will remain the majority shareholder in the company. Coty’s Chairman and CEO Peter Harf said in a statement that Kim is a true modern-day global icon.
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