Coty Inc. provided details about the strategic partnership in a press release, stating that together, the company and Kim will “focus on entering new beauty categories and global expansion” beyond KKW’s existing product lines. This means development in skincare, haircare, personal care and nail products!
As for Kim’s role, she 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 release read.
Coty Inc. recently made a separate deal with Kim’s sister, Kylie Jenner: a 51 percent stake in the 22-year-old’s makeup company, Kylie Cosmetics, for $600 million.
However, Kim, unlike Kylie, will remain the majority owner of her company.