NEW YORK – Kim Kardashian West is selling a stake in her beauty brand for $200 million, in a deal that values the TV reality star's three-year-old business at $1 billion.
The buyer is Covergirl owner Coty Inc., which will get a 20% stake in KKW Beauty. Coty seems to be enamored with the Kardashians: Last year, it bought a 51% stake in the makeup line started by Kardashian West's younger sister, Kylie Jenner.“Kim is a true modern day global icon,” said Coty CEO Peter Harf, which is similar to what he said about Jenner in November.
Kardashian West, who stars on the long-running reality TV show “Keeping Up with the Kardashians,” founded KKW Beauty in 2017 and tapped into her hundreds of millions of social media followers to sell lip gloss,.