Kim Kardashian has reached a new milestone with her beauty company KKW Beauty, with the business hitting the billion dollar mark.
Cosmetic conglomerate Coty Inc. bought a 20% stake in the company, adding an additional $200 million dollars to the business.
The deal is said to be a long-term strategic partnership to launch products in new beauty categories and to expand the company across the globe.
Coty is the same company that bought a 51% stake in her sister Kylie’s company Kylie Cosmetics – for $600 million.
Kim spoke to TMZ about what the partnership means for her business, which she remains the main stakeholder in.
“This relationship will allow me to focus on the creative elements that I’m so passionate about while benefiting from the incredible resources of Coty, and launching my products around the world.”
The 39-year-old set up her beauty line in 2017, selling cosmetic products and perfumes.
Over the weekend, Kim’s husband Kanye West teamed up with Gap to launch an “affordable” Yeezy line.
Kim took to Twitter to share her support for her husband’s new business venture:
“If anyone knows Kanye they know how much the Gap and Yeezy means to him so this partnership is his dream come true! I am so proud of him.”
“You guys are going to love what they have in store for everyone! From working at the Gap to this partnership is so inspiring #WestDayEver”
On this week’s episode of #GossChats – Ali Ryan chats to Aoife Walsh.
The former Miss Ireland opens up about postponing her wedding, being apart from her fiancé, and the lessons she has learned during lockdown.
#GossChats is sponsored by top Irish aesthetic clinic Haus of JeJuve.