Both Kim Kardashian And Kanye West Are Now Certified Billionaires

Published on
ByMax

Coty Inc., the global beauty conglomerate that in 2019 bought a 51% stake in Kylie Jenner’s cosmetics company, has just made another member of her family a billionaire.

According to TMZ, the company has signed a $200 million deal with Kim Kardashian for a 20% stake in KKW Beauty, meaning Coty has valued the reality star’s cosmetics brand at $1 billion.

Sources told the outlet that this is intended to be a long-term strategic partnership, with Coty acting as a licensee for skin, hair, personal, and nail products.

They said the plan is to launch products in new categories while also pursuing global expansion.

Kim Kardashian West Is Worth $900 Million After Agreeing To Sell A Stake In Her Cosmetics Firm To Coty

Coty is the same company that previously purchased a 51% stake in Kylie Cosmetics for $600 million, leading Forbes to name Jenner the “youngest self-made billionaire ever.” But the magazine recently retracted that moniker after claiming financial filings released by Coty revealed that “Kylie’s business is significantly smaller, and less profitable, than the family has spent years leading the cosmetics industry and media outlets, including Forbes, to believe.”

So, The Black Officer In George Floyd’s Murder Is A Nigerian

SHARE
Share on whatsapp
Share on facebook
Share on twitter
Share on email
Share on print
Get the Best Stories Delivered Straight to Your Inbox

Related Stories