Reality star, Kim Kardashian has just sold part her multinational make up brand, KKW Beauty, for $200 Million to Covergirl, read all about it below
The reality star started her famous makeup brand back in 2017 and now has a net worth of $1 billion. Coty Inc. bought also a 51% stake in Kim’s younger sister Kylie Jenner, Kylie Cosmetics.
Covergirl’s CEO, Peter Harf, has stated that “Kim is a true modern-day global icon”.
The brand hopes that collaborating with the star would help boost sales and connect with a younger market who spend a lot of their time on social media like Instagram, Twitter, and TikTok. Even though Covergirl is a worldwide brand and owns other huge brands Max Factor, they cannot compete with KKW Beauty and their 4.4 million followers on Instagram.