Coty announced earlier this month that it was in discussions with West. Coty bought into West’s sister’s brand, Kylie Cosmetics, in late 2019, closing the deal in January 2020. That $600 million deal has come under scrutiny after Kylie’s sales figures may not have been as high as initially reported.
Coty will have overall responsibility for the portfolio’s development in skin care, hair care, personal care and nail products. Kardashian West and her team will lead all creative efforts in terms of product and communications initiatives. The acquisition is expected to close in the third quarter of FY21. All the business's products will be sold through leading luxury beauty retailers as well as owned digital channels.
Through the relationship each party will leverage its unique strengths to further build a high growth, direct-to-consumer beauty brand, Coty said in a statement.
“Kim is a true modern day global icon. She is a visionary, an entrepreneur, a mother, a philanthropist, and through social media has an unparalleled ability to connect with people around the world. This influence, combined with Coty’s leadership and deep expertise in prestige beauty will allow us to achieve the full potential of her brands,” said Peter Harf, Coty chairman and CEO.
“Partnering with an established organization like Coty will be instrumental in the advancement of my brands as their global reach allows for faster expansion so people around the world are able to experience new launches first hand. This relationship will allow me to focus on the creative elements that I’m so passionate about while benefiting from the incredible resources of Coty, and launching my products around the world,” said Kardashian West.