Kim Kardashian West is officially an owner of a billion-dollar beauty company.
Following in the footsteps of her younger sister Kylie Jenner—who also secured a major investment for her beauty brand, Kylie Cosmetics—the Keeping Up With The Kardashian star recently landed a multi-million dollar investment for KKW Beauty.
According to People, Kim’s successful beauty empire is now valued at a staggering $1 billion after beauty giant Coty acquired a 20% stake in KKW Beauty for $200 million.
Although Kim and her team plan to continue leading creative efforts, Coty is reportedly set to help broaden the reality star’s ability to grow the business with haircare, skincare, nail products, and personal care products.
“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,” Kim shared in a press release.
She continued, “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.”
A few months ago a similar announcement was made for Kylie Jenner's company, Kylie cosmetics, who according to Forbes allegedly doctored her profits, forcing them to strip her of her billionaire status. We will reserve celebration until someone can investigate if this is official, official.
In the meantime though, the big news caused her entrepreneur husband Kanye West to make a rare appearance on Twitter in support of his wife’s major milestone.
“I am so proud of my beautiful wife Kim Kardashian West for officially becoming a billionaire,” Kanye tweeted. “You’ve weathered the craziest storms and now God is shining on you and our family.”
The rapper continued, “So blessed this is still life. So I made you this still life. We love you so much.”
To accompany his sweet words, Yeezy also shared a photo of fresh flowers and produce.
Forbes reports that the sale makes Kim’s net worth an estimated $900 million.
(Photo: Marc Piasecki/GC Images)
TRENDING IN STYLE