Kim Kardashian Kickstarts The New Year With A Serious Money Move That Will Make Her $200M Richer
Kim Kardashian is kickstarting 2021 with a power move that will reportedly make her $200 million richer.
According to Daily Mail, the Keeping Up With The Kardashian star is poised to make some serious coins after selling a 20% ownership stake of her successful beauty brand, KKW Beauty.
Acquired by Coty Inc., the beauty company reportedly released a statement on Tuesday confirming the completed acquisition, along with the promise to work closely with the reality star to “focus on entering new beauty categories and global expansion beyond existing product lines.”
There was even mention of a skincare line, which is expected to launch in 2022.
“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 shared in a statement about the beauty line she launched in 2017.
She continued, “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.”
FYI: Coty is one of the world's largest beauty companies with an iconic portfolio of beauty brands, including Kylie Cosmetics.
Kudos to Kim for her latest business venture. It looks like she’s taking notes from her younger sister Kylie Jenner—who also secured a major investment from Coty in 2019.
