Kim Kardashian to sell Coty US$200-m stake in beauty business

Coty Inc., owner of Max Factor and Covergirl, agreed on Monday to buy a 20 per cent stake in Kim Kardashian West’s beauty business for US$200 million to develop skin, hair and nail products under the reality TV star’s brand.

Kim Kardashian West

The news comes just days after her husband, Kanye West, announced a partnership with Gap Inc. on a new line of apparel for men, women and kids called Yeezy Gap.

The partnership comes just months after Coty closed a US$600 million deal with the reality TV star’s sister, Kylie Jenner.

Coty expects the acquisition to be completed in the third quarter, and all the products will be sold through luxury beauty retailers as well as online, according to a statement Monday.