Kim Kardashian West Inks Major Deal with Coty
The rumored Kim Kardashian West and Coty Inc. partnership was confirmed today and it’s big. Coty have signed a licensing deal with West’s for a 20 percent stake in her beauty company KKW Beauty with a whopping $200 million paycheck. WWD reports the agreement will enter Kardashian West into some new territories: skin care and eventually personal-care products, hair care and nail.
“This deal is similar to the one that Coty did with Kylie. The only difference is that Coty is taking a smaller position in Kim’s investment vehicle,” said Peter Harf, Chief executive officer of Coty, to WWD. Harf put together the deal with Kardashian West, Kris Jenner, and Tiger Chark ceo Lisa Manice.
The deal ensures Kardashian-West will retain creative control of the company and make her worth $1 billion. Slightly less than the $1.2 billion evaluation of her sister’s company, Kylie Cosmetics.
Last week, Kardashian West’s other half Kanye signed a deal to do a collaboration of his YEEZY line with Gap. His brand is valued at $2.9 billion.