女大学生的沙龙

女大学生的沙龙: Coty pays $200m for slice of Kim Kardashian’s beauty business

The deal is the latest attempt by the cosmetics company to buy popular brands that appeal to younger consumers

Kim Kardashian
Kim Kardashian at a KKW Beauty launch in New York last October

Cosmetics business Coty will pay $200m (?162m) for a fifth of Kim Kardashian West’s beauty brand.?

KKW already sells anything from lipsticks to mascara and concealers. The cash injection and Coty’s global reach will allow it to branch into skincare, haircare, personal care and nail products, they said.?

Meanwhile, the reality TV star will use her 300 million?followers across her personal brand and social media to promote her products.?

Coty chief executive Peter Harf described Kardashian West as a “true modern day global icon”.

She said the company would help her brands expand internationally much more quickly, while she can focus on creating more merchandise.?

Coty’s shares rose almost 9pc in morning trading in New York, with the deal valuing the beauty brands at $1bn.? It?owns Rimmel, Covergirl and Max Factor.

The move comes after Coty bought a controlling stake in Kylie Jenner’s brands?earlier this year.

Jenner and Kardashian West are half-sisters and both feature in the reality TV show Keeping Up With The Kardashians.?

Ms Kardashian West founded KKW in 2017, two years after Ms Jenner launched her beauty brand.?

Coty said the investment is part of its push to be more “agile”. A year ago it laid out a four-year restructuring plan.?

It has been struggling to compete with nimbler rivals, which are often more Instagram-friendly. Its market value has more than halved this year and is worth $3.5bn.?

The company estimated it would have to spend $600m to simplify the business, including moving its headquarters to Amsterdam.?

Coty expected the deal to close in the second half of 2021. New York-based Tiger Chark advised on the deal.?

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