Coty Inc. has announced the sale of its 20% stake in SKKN by Kim, signaling the end of its partnership with Kim Kardashian’s beauty brand. As part of the shift, control of the beauty line will be transferred to Kardashian’s shapewear brand, Skims, which has experienced rapid growth and is valued at $4 billion.
Details of the Transaction
Coty acquired its stake in SKKN by Kim for $200 million in 2021, though the financial details of the sale have not been disclosed. Despite this change, Coty will maintain its stake in Kylie Cosmetics, with the collaboration between the two brands continuing as planned.
Kardashian’s beauty venture will now be integrated into Skims, which recently formed a partnership with Nike, further expanding its market presence.
Background and Strategic Shifts
The move comes after reported tensions between Coty and the Kardashian-Jenner family regarding the management of their respective brands. Frustrations surfaced in 2023, with both Kim Kardashian and Kylie Jenner exploring ways to regain more control over their ventures.
This decision reflects a broader trend within celebrity-backed beauty brands, as stakeholders look to consolidate ownership and streamline operations. For Coty, this exit allows the company to refocus its portfolio and prioritize investments such as its ongoing collaboration with Kylie Cosmetics.
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