Kim Kardashian West might have just become a billionaire overnight. The fashion and makeup mogul just sold a fifth of her stake in KKW Beauty to Coty for about $200 million. The news has exploded on social media. Everyone is congratulating the Kardashian for finally becoming a billionaire after Kylie Jenner was found to have inflated her value.
A New Strategic Partnership
The sale of 20 percent stake in KKW Beauty by Kim Kardashian means the creation of a new strategic partnership. It is exciting news for the Kardashian household. Kim has fans across the globe. They love her beauty brand. This partnership is expected to result in new makeup, skincare, haircare, and nail products being launched. There is no limit to what can be produced since Kim will continue to help inspire the brand and continue promoting it over social media.
Advancement of the Brand
Now that KKW Beauty has partnered with Coty which is an established organization, it will help with the advancement of the brand. The organization has a global reach which should help with further expansion. More people around the world will finally get to purchase items inspired by Kim Kardashian. Fans are extremely excited for what is to come. Kim Kardashian believes that her relationship with the company would allow her to focus more on the creative aspect of things. It is something that she is passionate about doing. The resources provided by Coty will benefit the brand considerably. The new products will be launched worldwide.
Deal with Kylie Jenner
Coty had closed a deal with Kylie Jenner, Kim Kardashian’s half-sister back in January. The deal involved the buying of 51 percent stake in Kylie Cosmetics. It allowed Kylie to earn a massive $600 million. Thus, the new investment means that Kim Kardashian will become the richest family member.
Is The Deal Closed?
The deal should close by the end of this year. No news of KKW hair, skin, or nail products has been released as of yet. But, it is expected that new products would be launched soon. Coty will take over the responsibility of portfolio development. It aims to develop new personal care, hair care, skincare, and nail products. Coty has a deep understanding of how the industry operates. Its go-to-market and commercial expertise will allow the brand to grow. Its strengths can be leveraged to build a highly profitable direct-to-consumer brand.
Kim Set To Become a Billionaire alongside Her Husband
Earlier this year, Kanye West, Kim’s husband became a billionaire according to Forbes due to his partnership with Adidas. It was shocking news when everyone heard that West would get to work with Gap.
Kim Kardashian knows how to grow a brand. She has a massive social media following. With the power to leverage millions of followers for her brand, KKW Beauty will reach new heights after the partnership with Coty. The brand has huge potential.