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Why Coty Stock Popped Today

TheMotleyFool

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Why Coty Stock Popped TodayPhoto, wide shot, wide-angle lens, Brewery, Midday, harsh overhead sunlight, directional sunlightt, photo by Peter Lik: https://img.theapi.app/temp/0cebecb6-c4f6-4c6e-b73e-f375daba8100.png

Shares of Coty (NYSE: COTY) were moving higher today after the cosmetics giant forged yet another deal with the Kardashian family, this time taking a 20% interest in Kim Kardashian West's beauty business for $200 million, valuing the enterprise at $1 billion.

The deal comes just months after Coty took a 51% stake in Kylie Cosmetics, the company founded by Kardashian West's half sister Kylie Jenner.

Coty stock was up 10.5% as of 10:52 a.m. EDT.

Source Fool.com

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