Why Kim Kardashian West is richer than Kylie Jenner: SelfMadeWomen by MadelinePBerg
The fortunes of both sisters have been hurt by the coronavirus pandemic, which has affected sales across the beauty sector.ack in January, it looked like Kylie Jenner had sealed the deal of a lifetime. selling just over half her Kylie Cosmetics to publicly traded firm Coty Inc. in a deal that valued the company at $1.2 billion.
Kardashian West’s cosmetics line KKW Beauty has also been impacted by the pandemic—the two companies share a manufacturer, and KKW Beauty is also sold exclusively at Ulta. Forbes estimates that West’s 72% stake in KKW Beauty is worth about $500 million, valuing the business a bit lower than Coty's implied $1 billion valuation in June.
“Coty has yet to prove themselves, especially in prestige makeup. They are known as a mass brand, and now they paid a lot of money for something they don't have much experience in,” says cosmetics veteran Jeffrey Ten, who has run companies like Note Cosmetics, Nyx and Calvin Klein Beauty. “And now with coronavirus, makeup is under tremendous pressure.”
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