THE WHAT? Coty has completed the acquisition of a 20 percent ownership of Kim Kardashian West’s KKW Beauty brand for $200 million.
THE DETAILS First announced in June 2020, as part of the partnership Kardashian West and her team will continue to use her social media status to head up the creative side in terms of product and communications initiatives, while Coty will have overall responsibility for the portfolio’s development, including skincare, haircare, personal care and nail products.
Sue Y. Nabi, Chief Executive Officer of Coty, said, “Coty brings unique IP in skincare, the scientific knowledge of the skin as reflected in our formulation know-how, while Kim brings a huge global following and unparalleled influence over consumer choice. She has a unique ability to read the latest beauty and wellness trends, while we have the expertise on global product positioning, access to a vast global distribution network, and the resources to enter new beauty categories.”
THE WHY? Following the acquisition Coty and Kardashian West are said to be focused on developing the brand in new beauty categories as well as ‘global expansion beyond existing product lines.’
This will include the development of a skincare line, which has an expected launch date of fiscal year 2022.