Coty Inc. the company that purchased Kylie Jenner’s Kylie Cosmetics has announced the purchase of another multi-million dollar business from the Kar-Jen clan.
Kim Kardashian West’s KKW Beauty line is now valued at $1 Billion after Coty Inc. announced it will acquire a 20% stake at Kardashian West’s beauty line.
The $200 million stake at Kim’s beauty-line ramps the company’s value to touch a billion, slightly less than what Kim’s half-sister’s company was valued last January after purchasing by Coty. Kardashian West’s fortunes are now $900 million according to Forbes.
“This relationship will allow me to focus on the creative elements that I’m so passionate about while benefiting from the incredible resources of Coty,” Kardashian West said.
She will nonetheless retain the creative control of the company under the agreement, and she will continue to leverage her 300-, million social fan-following for marketing and communications purposes according to the Coty. Coty on the other hand will be in charge of the overall portfolio development.
“I am so proud of my beautiful wife Kim Kardashian West for officially becoming a billionaire. You’ve weathered the craziest storms and now God is shining on you and our family. So blessed this is still life. So I made you this still life. We love you so much,” a proud Kanye West wrote on Twitter.
(Cover image courtesy of Kim Kardashian West via Instagram)