Cosmetic Maker Coty Agrees on Interest in Kim Kardashian Brand
The American cosmetics company Coty preys on the beauty label of reality star Kim Kardashian.
The company is said to agree on the acquisition of 20 percent of KKW’s shares for $ 200 million, British business newspaper Financial Times reports on sources.
Coty is also said to have negotiated an option to acquire a majority of KKW.
It was previously revealed that Kardashian’s partner for her beauty line, Seed Beauty, went to court over the potential deal between KKW and Coty.
Seed does not want trade secrets to be transferred to Coty as part of the agreement. According to Seed, Coty would have an unfair competitive advantage. The issue could delay negotiations with Coty.
The potential partnership between KKW and Coty comes just months after the cosmetic maker made a $ 600 million deal with Kim Kardashian’s sister Kylie Jenner. Seed also has a contract with Jenner.