Kim Kardashian Just Sold 20 Percent Of KKW Beauty For $200 Million

Kim Kardashian West just closed a major business deal.

On Tuesday (January 5), the reality-star-turned-beauty-mogul sold 20 percent of her KKW Beauty company to Coty for a whopping $200 million. According to Entertainment Tonight, this deal will help Kim expand her beauty line into a skincare line set to drop in 2022, as well as develop hair care, personal care, and nail products.

Kim follows in her younger sister Kylie Jenner's footsteps with this deal. In November 2019, Kylie sold 51 percent of Kylie Cosmetics and Kylie Skin brands to Coty for $600 million.

"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," Kim said in a press release. "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."

As for why Coty was interested in partnering with Kim, Coty CEO Sue Y. Nabi said she shares the company's "true passion for beauty products, and this acquisition allows us to leverage our respective strengths for mutual benefit and value creation. Coty brings unique IP in skincare, the scientific knowledge of the skin as reflected in our formulation know-how, while Kim brings a huge global following and unparalleled influence over consumer choice."

"She has a unique ability to read the latest beauty and wellness trends, while we have the expertise on global product positioning, access to a vast global distribution network, and the resources to enter new beauty categories," Nabi continued. "I look forward to working closely with Kim and her team and I’m excited by everything we will achieve together."

Kim and her KKW Beauty team will remain the "creative visionaries" of the brand moving forward, according to ET.

Photo: Getty