Just in: Coty buys stake in Kim Kardashian's beauty line
Kim Kardashian West is following in the footsteps of her youngest sister, Kylie Jenner, after she celebrated a huge feat, courtesy of her $600 million-dollar deal with Coty.
Now, it's been announced that the cosmetics maker has agreed to buy a 20 per cent stake in West's makeup brand, KKW, for $200 million dollars.
Expanding its collaboration with the celebrity family, this new deal between Coty and KKW will expand into new areas of the beauty business such as skincare. KKW currently consists of coloured cosmetics and fragrances.
"This deal is similar to the one that Coty did with Kylie. The only difference is that Coty is taking a smaller position in Kim's investment vehicle," said Peter Harf, Chief executive officer of Coty, in an exclusive statement to WWD.
And it seems that Kim Kardashian West isn't the only family member to recently make a beauty announcement. Find out which member of the celebrity clan is planning on entering the beauty business.