Coty to Pay $200 Million for a Stake in Kim West’s Beauty Business

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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. 

cosmetics and application brushes on a black table

Image source: Getty Images.

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