Kim Kardashian sells part of KKW beauty brand to cosmetics company Coty in $200 million dollar deal – The Sun

KIM Kardashian has sold part of her KKW beauty brand to Coty in a $200 million dollar deal.

The cosmetics company now has a 20% stake in the reality star's business as well as investing in sister Kylie Jenner's line last year.

Kim told TMZ: "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, and launching my products around the world."

The new deal values Kim's beauty business – which includes lipsticks, eyeshadows, foundations and powders – at $1 billion.

A source tells the Financial Times that Coty could buy a majority stake further down the line.

Kim's news comes after husband Kanye West announced his new business venture last week.

The rapper will sell his designer Yeezy line at high-street store Gap – much to the excitement of fans.

Kanye's fans were quick to comment underneath and appreciate the new, and unexpected, business venture.

One posted: "Affordable YEEZY clothing. The vision is becoming a reality."

Another added: "Went from working at GAP to partnering with them, such an inspiration."

It is believed to be a multi-million pound partnership and will see Kanye's loyal followers be able to easily get their hands on his stylish gear.

These include loungewear as well as his hit trainers range.

A teaser image of the upcoming collection shows someone sporting a pillar-box red coat and blue hoodie, and zipping up a khaki coloured duffle bag adorned with the Yeezy logo.

Its must be a particularly special partnership for Kanye, who worked in a GAP store in Chicago as a teenager.

Kanye returned to the Yeezy catwalk with his latest range in March, after a three-year break.

He has previously spoken out about his love for GAP, telling "I'd like to be the Steve Jobs of Gap."

He added: "I’m not talking about a capsule.

"I’m talking about full Hedi Slimane creative control of the Gap."

Source: Read Full Article