Coty is in talks with Kim Kardashian West for a possible collaboration “with respect to certain beauty products,” according to a regulatory filing. The possible partnership comes just months after Coty closed a US$600 million deal with the reality TV star’s sister, Kylie Jenner.
The deal calls for Coty to develop new products with Kardashian, including skincare, hair, and nail brands, and follows Coty’s US$600 million investment last year in the fledgling makeup company of Kardashian’s half-sister, Kylie Jenner, where it now owns a majority stake.
“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,” Coty chairman and chief executive, Peter Harf said in a statement. “This influence, combined with Coty’s leadership and deep expertise in prestige beauty will allow us to achieve the full potential of her brands.”
Harf said Coty, which owns CoverGirl and Max Factor brands, will be doubling down on powerful social media brands to drive its growth, which has been struggling this past year due to a heavy debt load and diminished demand for its products.
Full Content: Financial Times
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