Kim Kardashian is the owner of a billion dollar brand.
A year after US beauty giant Coty Inc purchased a majority stake in Kylie Jenner’s makeup and skincare line, the company has agreed to buy a 20% stake in Kim Kardashian West’s KKW for $200 million.
The deal values Kim’s cosmetics company at $1 billion, slightly lower than the $1.2 billion valuation Coty put on Kylie Jenner’s business.
We guess that Forbes’ piece accusing Kylie Jenner of faking tax returns and inflating her company’s valuation didn’t faze Coty one bit.
Now, Kanye isn’t the only billionaire in the Kardashian-West household.