Coty has announced that it has completed the acquisition of a 20% ownership interest in Kim Kardashian West's business, KKW Beauty, for $200 million. The strategic transaction was announced in June 2020 and successfully completed on schedule in Q3 fiscal year 2021. Together, Coty and Kardashian West will focus on entering new beauty categories and global expansion beyond existing product lines. This includes the development of her skincare line, which remains on track for an expected launch in the fiscal year 2022.

Kardashian West and her team will lead the creative efforts relating to product and communications initiatives, building on her global reach capabilities through social media. Whilst Coty will have overall responsibility for the portfolio’s development, including skincare, haircare, personal care and nail products.

Kim Kardashian West said: “I’m so proud of how the KKW brand has grown over the past four years, and I look forward to working with Coty for the next phase of innovation, advancement, and the ability to bring new launches to customers all around the world. This relationship will allow me to lead the development of the creative elements that I specialize in, while benefiting from the incredible resources of an established company like Coty.”