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India: GST Council brings relief to the transport sector.
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Kim Kardashian sells stake in beauty brand ‘KKW Beauty.’

News By/Courtesy: Muskan Chanda | 03 Jul 2020 0:07am IST

Fashion & Lifestyle

Modern-day global icon and a reality TV star Kim Kardashian West is selling a stake in her beauty brand USD 200 million, in a deal that values the TV reality star’s 3-year-old business at USD 1 billion.

The person who is purchasing it is Covergirl owner Coty Inc., which will get 20 percent of stake in KKW beauty. “Kim is a true modern-day global icon,” said Coty CEO Peter Half, the same thing he said about Kim’s younger sister Kylie Jenner last year in November when Coty bought 51 percent of stake in makeup line started by Kylie Jenner. Coty seems to be very fascinated by the Kardashians.

Under the agreement, Coty will take responsibility for the sales pf its skin, hair, and nail care products.
Kim Kardashian made her name in a long-running reality TV show “Keeping up with Kardashian. Wich became a global hit. She then branched out and founded KKW beauty in 2017. This was her first cosmetic range which already worth 1 billion

Coty has planned to expand the brand to more countries across the world and in the diverse category. The target audience is the young shoppers who spend a lot of time on social media.

KKW Beauty has 4.4 million followers on Instagram so the popularity of it cannot be beaten by any of the brands of Coty including Max Factor.

"She is a visionary, an entrepreneur, a mother, a philanthropist, and through social media has an unparalleled ability to connect with people around the world,” said Coty’s CEO Peter Half.

The latest deal comes a week after Ms. Kardashian West's husband - the rapper Kanye West - announced that his fashion brand Yeezy had signed a 10-year deal with the retailer Gap.

News of that tie-up sent shares in Gap up by almost 20%.

THIS ARTICLE DOES NOT INTEND TO HURT THE SENTIMENTS OF ANY INDIVIDUAL, COMMUNITY, SECT, OR RELIGION ETCETERA. THIS ARTICLE IS BASED PURELY ON THE AUTHOR'S PERSONAL VIEWS AND OPINIONS IN THE EXERCISE OF THE FUNDAMENTAL RIGHT GUARANTEED UNDER ARTICLE 19(1)(A) AND OTHER RELATED LAWS BEING FORCE IN INDIA, FOR THE TIME BEING.

Section Editor: Pushpit Singh | 03 Jul 2020 1:04am IST

Tags : #kimkardashianwest #kyliejenner #stakesell

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