Coty Steps Away from Kim Kardashian’s Beauty Venture
Coty Inc. is divesting its 20% stake in SKKN by Kim, moving away from its partnership with Kim Kardashian’s beauty line. The post Coty Steps Away from Kim Kardashian’s Beauty Venture appeared first on Global Cosmetics News.
THE WHAT? Coty Inc. is divesting its 20% stake in SKKN by Kim, moving away from its partnership with Kim Kardashian’s beauty line. Control of the brand will transfer to Kardashian’s shapewear label, Skims, which has seen rapid growth and carries a valuation of US$4 billion.
THE DETAILS
- Coty acquired its stake in SKKN by Kim for US$200 million in 2021, though financial specifics of the current sale remain undisclosed.
- Kylie Cosmetics, partially owned by Coty, will continue its existing collaboration with the cosmetics giant.
- Kardashian’s beauty brand will be merged under Skims, which recently announced a partnership with Nike.
- Frustrations about Coty’s management from both Kardashian and Kylie Jenner had surfaced in 2023, with discussions around regaining greater ownership of their respective brands.
THE WHY? The pivot highlights an ongoing reshuffle within celebrity-backed beauty ventures, driven by efforts to consolidate brand ownership and streamline management. For Coty, this move recalibrates its portfolio while focusing on its core consumer group through remaining investments like Kylie Cosmetics.
The post Coty Steps Away from Kim Kardashian’s Beauty Venture appeared first on Global Cosmetics News.
