Kim Kardashian’s beauty brand, KKW, has been valued at a billion dollars, with the mogul now overtaking the wealth of her younger sister Kylie Jenner.
Furthermore, Kim Kardashian 39, has just inked a deal with Coty Inc. to sell a 20 per cent stake in the company, which sells make-up and fragrances, for $200million.
The deal is for a ‘long-term strategic partnership to launch products in new beauty categories
and expand across the globe from top to bottom’, TMZ reports.
Sources also said that Coty acts as a licensee for skin, hair, personal, and nail products.
If the company have paid $200million for one fifth of the brand, that means they value the whole company at a billion dollars.
This means that Kim has overtaken her sister Kylie, 22, in the wealth stakes as her wealth is thought to be at $900-950million.
angering her by accusing her of inflating figures and ‘forging’ tax returns for the makeup mogul’s cosmetics company.
TMZ also reported that Kim and her team have been working out the deal with Coty for months.
Kim 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.’
Olalekan Ajimoti – Blogger, Content Writer, and Digital Marketer helping brands and retailers build 8-figure e-commerce since 2016.
As a corporate trainer, brand communications expert, and brand consultant, I help people start, stay and grow in business leveraging digital skills and traditional expertise.
