Coty: strategic deal with Kardashian West
(CercleFinance.com) - US beauty and care product company Coty, originally founded in Paris, and Kim Kardashian West have announced a strategic transaction to expand Kardashian West's business globally, with entry into new cosmetics categories and a global expansion beyond existing product lines.
"Kardashian West and her team will lead all creative efforts in terms of product and communications initiatives, building on her remarkable global reach capabilities through social media," the cosmetics group said.
Under the terms of the agreement, Coty will acquire a 20% stake in Kardashian West's beauty business for 200 million dollars, and will be responsible for developing the company's portfolio of skin care, hair care, personal care and nail products.
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