Followers | 241 |
Posts | 12150 |
Boards Moderated | 3 |
Alias Born | 04/05/2009 |
Tuesday, January 05, 2021 11:29:02 PM
Strategic partnership focused on developing Kardashian West’s new beauty business globally
Acquisition closes on schedule
Kardashian West’s skincare line on track to its expected launch in fiscal year 2022
NEW YORK--(BUSINESS WIRE)--Coty Inc. (NYSE: COTY), one of the world’s largest beauty companies and the global leader in fragrances, today announced the completed acquisition of a 20% ownership interest in Kim Kardashian West's business for $200M.
The strategic transaction was announced in June 2020 and successfully completed on schedule in Q3 fiscal year 2021. Together, Coty and Kardashian West will focus on entering new beauty categories and global expansion beyond existing product lines. This includes the development of her skincare line, which remains on track for an expected launch in fiscal year 2022.
Sue Y. Nabi, Chief Executive Officer of Coty, said: “Kim shares our true passion for beauty products, and this acquisition allows us to leverage our respective strengths for mutual benefit and value creation. Coty brings unique IP in skincare, the scientific knowledge of the skin as reflected in our formulation know-how, while Kim brings a huge global following and unparalleled influence over consumer choice. She has a unique ability to read the latest beauty and wellness trends, while we have the expertise on global product positioning, access to a vast global distribution network, and the resources to enter new beauty categories. I look forward to working closely with Kim and her team and I’m excited by everything we will achieve together.”
Kardashian West and her team will lead the creative efforts relating to product and communications initiatives, building on her remarkable global reach capabilities through social media. Coty will have overall responsibility for the portfolio’s development (skincare, haircare, personal care and nail products), leveraging its deep understanding of the industry and its commercial and go-to-market expertise. Through this relationship each party will leverage its unique strengths to enhance a high growth, direct-to-consumer (DTC) first beauty brand. Products will be sold through leading luxury beauty retailers, as well as owned digital channels.
Kim Kardashian West said: “I’m so proud of how the KKW brand has grown over the past four years, and I look forward to working with Coty for the next phase of innovation, advancement, and the ability to bring new launches to customers all around the world. This relationship will allow me to lead the development of the creative elements that I specialize in, while benefiting from the incredible resources of an established company like Coty.”
Kardashian West is one of the world’s highest-profile and influential consumer personalities, with 300 million followers across her personal and brand social media channels and a large global audience. She first emerged as a leading star with the success of the TV series ‘Keeping Up with the Kardashians’. In late 2020, it was announced that Disney is working with the Kardashian-Jenner family on global content on its Hulu and Star platforms.
https://www.businesswire.com/news/home/20210105005325/en/Coty-Completes-Purchase-of-20-Stake-in-Kim-Kardashian-West-Business
"Someone said it takes 30 years to be an instant success" - Gabriel Barbier-Mueller, CEO of Harwood International
Recent COTY News
- Orveda, the French multi-award-winning biotech skincare brand, unveils LA MAISON ORVEDA NEW YORK CITY, a wellness sanctuary dedicated to glow and skin longevity, located in the heart of the Upper East Side. • Business Wire • 09/12/2024 04:15:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/04/2024 08:33:15 PM
- ZTO Express Sees 10.1% Revenue Growth, Keysight Technologies Stock Rises 10%, and Latest in Earnings • IH Market News • 08/21/2024 12:13:43 PM
- Coty Announces Filing of Annual Report on Form 10-K for the Fiscal Year Ended June 30, 2024 • Business Wire • 08/20/2024 09:43:00 PM
- Form 10-K - Annual report [Section 13 and 15(d), not S-K Item 405] • Edgar (US Regulatory) • 08/20/2024 08:40:47 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/20/2024 08:34:47 PM
- Coty Reports Double-Digit Growth in FY24, Outpacing Beauty Market • Business Wire • 08/20/2024 08:30:00 PM
- U.S. Index Futures Hold Steady, Oil Prices Drop • IH Market News • 08/20/2024 09:58:42 AM
- Sally Hansen® and Warner Bros. Team Up for a Scary Good Nail Polish Collection to Celebrate the Release of This Fall’s Highly Anticipated Movie “Beetlejuice Beetlejuice” • Business Wire • 08/15/2024 02:11:00 PM
- Sally Hansen® and Warner Bros. Team Up for a Scary Good Nail Polish Collection to Celebrate the Release of This Fall’s Highly Anticipated Movie “Beetlejuice Beetlejuice” • Business Wire • 08/15/2024 01:00:00 PM
- KILL Sally Hansen® and Warner Bros. Discovery Team up for a Scary Good Nail Polish Collection to Celebrate the Release of This Fall’s Highly Anticipated Movie “Beetlejuice Beetlejuice” • Business Wire • 08/07/2024 09:37:00 PM
- Sally Hansen® and Warner Bros. Discovery Team up for a Scary Good Nail Polish Collection to Celebrate the Release of This Fall’s Highly Anticipated Movie “Beetlejuice Beetlejuice” • Business Wire • 08/07/2024 03:00:00 PM
- Calvin Klein Fragrances führt CK One Essence ein • Business Wire • 08/01/2024 11:31:00 PM
- Calvin Klein Fragrances présente CK One Essence • Business Wire • 08/01/2024 11:24:00 PM
- Calvin Klein Fragrances Introduces CK One Essence • Business Wire • 08/01/2024 12:31:00 PM
- Form SD - Specialized disclosure report • Edgar (US Regulatory) • 05/31/2024 08:28:58 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/30/2024 08:56:03 PM
- Coty Inc. to Present at Upcoming Investor Events • Business Wire • 05/28/2024 02:00:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/22/2024 08:49:54 PM
- Coty Inc. Prices €500 Million of Senior Secured Notes • Business Wire • 05/22/2024 08:24:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/21/2024 08:21:55 PM
- Coty Inc. to Offer Senior Secured Notes • Business Wire • 05/21/2024 06:30:00 AM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 05/07/2024 08:22:14 PM
- Disney Slashes Streaming Losses, UBS shoots up 9% as profit triples expectations, and More in Earnings • IH Market News • 05/07/2024 11:46:44 AM
- Coty and Lena Gercke Embark on New License Agreement • Business Wire • 05/07/2024 06:00:00 AM
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM
Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • ELMGF • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM