07.12.23
Kim Kardashian is reportedly in talks to buy back a minority stake in her beauty firm from Coty Inc., according to The Wall Street Journal, which cited people familiar with the matter.
The value of the stake has not been determined and talks could fall apart, the report said. Seemingly, Kardashian wants to buy back the stake as part of an effort to expand SKKN's beauty categories.
At the time, Kardashian commented, “Partnering with an established organization like Coty will be instrumental in the advancement of my brands as their global reach allows for faster expansion so people around the world are able to experience new launches first hand. 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 acquisition also followed investments from Coty in sibling Kylie Jenner’s brands Kylie Cosmetics and Kylie Skin.
Then, KKW Beauty shut down operations in the summer of 2021, before Kardashian and Coty relaunched the label as SKKN by Kim the following year.
Meanwhile, KKW Fragrance closed in April 2022.
Most recently, in June, Kardashian confirmed on Twitter that she is bringing back her KKW Beauty makeup and fragrance lines under the SKKN umbrella—and the products are expected to launch this year.
The value of the stake has not been determined and talks could fall apart, the report said. Seemingly, Kardashian wants to buy back the stake as part of an effort to expand SKKN's beauty categories.
About the Partnership Between Kim and Coty
Coty bought a 20% stake in the reality TV star's makeup brand SKKN by Kim in June 2020, valuing it at $1 billion.At the time, Kardashian commented, “Partnering with an established organization like Coty will be instrumental in the advancement of my brands as their global reach allows for faster expansion so people around the world are able to experience new launches first hand. 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 acquisition also followed investments from Coty in sibling Kylie Jenner’s brands Kylie Cosmetics and Kylie Skin.
Then, KKW Beauty shut down operations in the summer of 2021, before Kardashian and Coty relaunched the label as SKKN by Kim the following year.
Meanwhile, KKW Fragrance closed in April 2022.
Most recently, in June, Kardashian confirmed on Twitter that she is bringing back her KKW Beauty makeup and fragrance lines under the SKKN umbrella—and the products are expected to launch this year.
