Kim Kardashian West's KKW cosmetics line is worth $ 1 billion

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After buying Kylie Jenner's beauty business last January, Coty (COTY) announced Monday that it would acquire a 20% stake in KKW, Kim Kardashian West's cosmetics line, for $ 200 million. The deal values ​​KKW at $ 1 billion, slightly less than Jenner's company Kylie Cosmetics' $ 1.2 billion valuation.

Under the deal, Kardashian West would retain creative control of the company, while leveraging its more than 300 million social media followers for "communication products and initiatives."

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"This relationship will allow me to focus on the creative elements I am so passionate about and at the same time benefit from Coty's incredible resources," said Kardashian West.

The deal, which is expected to close in the third quarter of 2021, is the latest development in a news month for Coty. In early June, the company fired CEO Pierre Laubies and replaced him with President Peter Harf, its fourth CEO in four years.

It also announced a series of layoffs in 2019 and a $ 3 billion amortization for the brands it acquired from Procter & Gamble (PG) in 2015.

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