(NEW YORK) — Kim Kardashian West is selling a stake in her beauty brand for $200 million, in a deal that values the TV reality star’s three-year-old business at $1 billion.
The buyer is Covergirl owner Coty Inc., which will get a 20% stake in KKW Beauty. Coty seems to be enamored with the Kardashians: Last year, it bought a 51% stake in the makeup line started by Kardashian West’s younger sister, Kylie Jenner.
“Kim is a true modern day global icon,” said Coty CEO Peter Harf, which is similar to what he said about Jenner in November.
Kardashian West, who stars on the long-running reality TV show “Keeping Up with the Kardashians,” founded KKW Beauty in 2017 and tapped into her hundreds of millions of social media followers to sell lip gloss, body foundation and perfume.