Kim Kardashian in Talks to Buy Back Stake in Coty, Boosting Stock Prices
Celebrity and entrepreneur Kim Kardashian is reportedly in discussions with beauty company Coty to repurchase the minority stake in her brand, SKKN BY KIM, according to a report by the Wall Street Journal (WSJ). The news has led to a rise in Coty’s stock prices.
Coty had acquired a 20% stake in SKKN BY KIM in 2020, valuing the brand at $1 billion. This move followed Coty’s purchase of a controlling stake in Kylie Jenner’s Kylie Cosmetics business for $600 million. The collaboration between Kardashian and Coty has been successful, with the launch of a new product line last year.
The talks between Kardashian and Coty concern expanding SKKN BY KIM’s beauty categories, as revealed by the WSJ report. Kardashian’s other business venture, Skims, was recently valued at over $3 billion in 2022. To further her investment efforts, Kardashian partnered with Jay Sammons from Carlyle to form SKKY Partners, focusing on consumer and media businesses.
The potential buyback of Kardashian’s stake in Coty and the further development of SKKN BY KIM suggest a promising future for both parties. Coty’s stock prices have already seen a positive impact as a result of the news.
This development also signifies Kardashian’s dedication to her beauty brand, as she looks to expand its reach in the beauty industry. By regaining control over SKKN BY KIM, Kardashian can steer its direction and capitalize on her entrepreneurial skills and strong brand presence.
While the deal is still under negotiation, the talks indicate a mutual interest in continuing the successful collaboration between Kardashian and Coty. As the discussions progress, investors and beauty enthusiasts alike will be eagerly anticipating the potential growth and expansion of SKKN BY KIM.
In conclusion, Kim Kardashian’s talks to buy back the stake in her beauty brand, SKKN BY KIM, from Coty have sparked investor interest and led to a rise in Coty’s stock prices. With plans to further develop SKKN BY KIM’s beauty categories, Kardashian aims to continue her success as an entrepreneur in the beauty industry. The potential deal demonstrates her commitment to her brand and her determination to take control of its future. As negotiations progress, the beauty world will be watching closely to see the outcome of this exciting endeavor.
