Kim Kardashian West has announced she's signed a deal with Coty to 'further develop' her beauty business globally.
Cosmetics brand and beauty giant Coty has bought a 20 per cent stake in Kim Kardashian’s KKW Beauty brand, in a deal that earned her £200 million (£162 million).
The deal values the reality TV star’s three-year-old business at £1 billion.
It is the second agreement the online marketplace has struck with the famous family, after buying more than half of Kylie Jenner’s makeup line.
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Kardashian leveraged her huge social media following to build up KKW Beauty, which was founded in 2017 and sells products including lip gloss, body foundation and perfume.
As part of the deal with Coty, the 39-year-old will still promote the business online and will help create new products.
Coty projected the KKW Beauty deal to close in the third quarter of fiscal 2021.
Kim Kardashian West commented, "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 news comes less than a week after Kardashian’s husband Kanye West’s fashion label Yeezy announced a collaboration with high street giant Gap.