French beauty titan Coty has snapped up a 20% stake in Kim Kardashian West’s KKW cosmetics range, less than a year after acquiring a majority stake in her sister Kylie Jenner’s beauty brand.
Under the deal Coty will take “overall responsibility” for driving sales of its skin, hair and nail care products, while Kardashian West will maintain creative control over the business.
The acquisition is the latest in a string of high-profile investments in beauty brands, including Spanish make-up empire Puig’s acquisition of Charlotte Tilbury earlier this month.
Coty’s stake in Kardashian West’s make-up brand follows the launch of its turnaround plan last year, which hinged on increasing its appeal to a younger audience.
As part of that plan the cosmetics group, which owns brands including CoverGirl, acquired a 51% stake in Kardashian West’s sister Kylie Jenner’s make-up brand Kylie Cosmetics.
Sources with knowledge of the matter told The Financial Times that Coty has also bought the option to acquire a controlling stake in KKW at a later date.
Kardashian West said: “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.”
Coty chief executive Peter Harf said Kardashian West is “a visionary, an entrepreneur, a mother, a philanthropist and through social media has an unparalleled ability to connect with people around the world”.
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