Business

Coty to buy 20% stake in Kim Kardashian West's beauty line

Coty to buy 20% stake in Kim Kardashian West's beauty line

Coty Inc has agreed to buy a 20 per cent stake in reality TV star Kim Kardashian West's make-up brand KKW for $200 million (Dh734 million), the Financial Times reported on Monday, citing people familiar with the matter.

The deal values West's cosmetics company at $1 billion, slightly lower than the $1.2 billion valuation Coty put on West's half sister Kylie Jenner's business, the report said.

Earlier this month, Coty disclosed that it was in talks with West over a potential collaboration for the beauty line.

The company has a majority stake in Jenner's make-up and skincare line, which it bought last year for $600 million.

West, who is known for chronicling her life with her sisters on TV's "Keeping Up with the Kardashians", launched her own make-up line in 2017, two years after Jenner's successful foray into the beauty industry.

Coty did not immediately respond to Reuters' request for comment after office hours.