Max Factor-owner Coty has snapped up a 20 percent stake in Kim Kardashian West’s beauty line KKW for $200-million. IOL_Lifestyle
KKW sells everything from mascara to lipstick as well as bundles of make-up that can cost £260 .
Coty’s willingness to buy a stake in another company set up by the Kardashian brood comes as its major investor JAB Holdings is trying to turn around the unprofitable cosmetics giant. Shares in the group, which also owns at-home hair dye brand Clairol and Rimmel London, have fallen by nearly two-thirds this year. Coty is hoping Kardashian West’s social media clout – she has 177m followers on Instagram – will help keep KKW’s sales buoyant.
Although Coty has bought a minority stake in KKW now, it has the ability to buy more at a later date, sources told the Financial Times.Earlier this week, Kardashian West’s rapper husband Kanye West announced his clothing line Yeezy is collaborating with Gap on a collection that will be on sale next year.
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