Cosmetics company Coty (NYSE:COTY) today announced a new strategic partnership with Kim kardashian West. The company will take a 20% stake in kardashian West’s beauty business for $200 million. Together, the partners will expand the business globally and enter new beauty categories, the company said.
Coty already has a business relationship with kardashian West’s half-sister, Kylie Jenner. In January 2020, the two parties closed a transaction in which Coty acquired a 51% stake in Jenner’s beauty business for $600 million.
The struggling beauty company has been taking steps to increase liquidity and reduce costs this year. Earlier this month, the company signed an agreement with invest