Kim Kardashian Is Also Apparently A Billionaire Now But Hopefully This Sister Isn’t Lying
Kim Kardashian’s makeup brand KKW Beauty has definitely been a huge money-maker for the reality star. Whether it’s lipsticks or contour sets, her products just sell out quickly. And Kim just inked herself a deal with French beauty giant Coty for $200 million, following in the footsteps of her sister Kylie Jenner.
Apparently Kim Kardashian Is Also A Billionaire Now Or Atleast We Hope This Sister Isn’t Lying
KKW beauty just received a massive influx of cash from cosmetic conglomerate Coty Inc., which forked out $200 million for a 20% stake in KKW’s biz.
So if you do the math and it all adds up, Coty values Kim’s co. at $1 BILLION but since Forbes just debunked that Kylie lied about her tax returns allegedly, we can never really be sure with these Kardashian-Jenner sisters
Back in late 2019, Kylie Jenner sold a $600 million stake of her company Kylie Cosmetics to Coty. This 51% share of the company would help her expand to global markets. “This partnership will allow me and my team to stay focused on the creation and development of each product while building the brand into an international beauty powerhouse,” Kylie told Business Insider. Now, Kim has also done the same, in a deal that will be finalized in the later part of 2021. Kim will still maintain creative control of the company just as Kylie did in her deal. Both sisters have hundreds of millions of followers on social media to help them interact with fans and promote their products.
“This relationship will allow me to focus on the creative elements that I’m so passionate about while benefiting from the incredible resources of Coty,” Kim said. This sale values KKW Beauty at around $1 billion. Kim first launched the company in August 2017 and stocked her website with 30,000 products on the day of the launch. Kylie Cosmetics had a hectic launch day back in 2015 when products sold out almost immediately so it seems like Kim also learned something from her sister in that area.
Kim is always promoting KKW Beauty on her own personal Instagram and typically always uses products from her own collection to get glam. Most recently, she used the Classic II Eyeshadow Palette to create a soft natural eye look.
Kim Has Been Spending Some Family Time With Kanye West
How is Kim celebrating her $200 million deal with Coty? With her husband Kanye West of course! The pair looked extra chic as they posed together for Instagram in matching leather outfits. Kim opted for a brown one-piece leather suit with a pair of sleek shades. And while we can’t see her eye makeup in the pictures she is no doubt wearing products from her own line KKW Beauty. She showed off her long braided ponytail and the revealing back of the outfit in a second picture. Kanye wore an all-black ensemble with matching shades as the pair pose in front of what looks to be their Wyoming ranch.
The couple are not strangers to turning heads with their daring looks, especially ahead of sister Khloe’s 36th birthday celebration.
Kim is definitely always making money moves just like Kylie, and we’re sure she’s got some exciting new launches up her sleeve for KKW Beauty.