Kim Kardashian West is selling 20% stake in her cosmetic company KKW beauty to giant Coty for $200million. The deal values KKW at $1billion, making Kim Kardashian West worth about $900million, according to forbes estimate.
The acquisition which is set to close in the third quarter of fiscal year 2021, will leave Kardashian West the majority owner of KKW beauty, with an estimated 72% stake in the company, which is known for its colour cosmetics like contouring creams and highlighter. Forbes estimates that her mother, Kris Jenner, owns 8% of the business[neither Kardashian West nor Kris Jenner have responded to a request for comment about their stakes].
Earlier this year, Kardashian West's half-sister, Kylie Jenner, also inked a big deal with Coty, when sold 51% of her Kylie cosmetics at a valuation of $1.2billion. The deal left Jenner with a net worth of just under $900million. Both Kylie cosmetics and KKW beauty are among a number of brands including Anastasia Beverly Hills, Huda beauty and Glossier, that have received sky high valuation, thanks to their social media friendly marketing. Kim Kardashian is indeed a true modern day global icon.
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