Coty to Pay $200 Million for a Stake in Kim Kardashian West’s Beauty Business
Cosmetics company Coty (NYSE: COTY) today announced a new strategic partnership with Kim Kardashian West. The company will take a 20% stake in Kardashian West's beauty business for $200 million. Together, the partners will expand the business globally and enter new beauty categories, the company said.
Coty already has a business relationship with Kardashian West's half-sister, Kylie Jenner. In January 2020, the two parties closed a transaction in which Coty acquired a 51% stake in Jenner's beauty business for $600 million.
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Source Fool.com
