Kim Kardashian is in talks with Coty to buy back a minority stake in her beauty firm from the fragrance and cosmetics company, the Wall Street Journal reported on Tuesday, citing people familiar with the matter.
The value of the stake hadn’t been determined and talks could fall apart, the report said, adding that Kardashian wanted to buy it back as part of an effort to expand SKKN’s beauty categories.
Coty bought a 20 percent stake in the reality TV star’s makeup brand SKKN BY KIM in June 2020, valuing it at $1 billion.
Shares of the Hugo Boss perfume maker were up 4% in after hours trading.
Coty did not immediately respond to a Reuters request for comment.
By Savyata Mishra; Editor: Vinay Dwivedi
Learn more:
How Kim Kardashian Changed Beauty – Again
Kim Kardashian may have launched her beauty brand, SKKN by Kim, with a collection of nine skin care products this year, but her impact on the beauty world came from just about everything else.
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