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Entertainment Kanye West Congratulates Kim Kardashian On Becoming A Billionaire After $200M Coty Deal

05:55  30 june  2020
05:55  30 june  2020 Source:   etcanada.com

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Kim Kardashian West ’s partner for her beauty line won a court order temporarily blocking the reality TV star from sharing trade secrets in their agreement as she pursues a stake sale to The possible partnership comes just months after Coty closed a 0 million deal with her sister, Kylie Jenner.

" Kardashian West and her team will lead all creative efforts in terms of product and communications initiatives," according to the release. On Friday, Kim Kardashian 's husband, Kanye West , announced a deal to design fashions for the Gap under his Yeezy brand. West worked in a Gap store

Kim Kardashian posing for the camera: Kim Kardashian. Photo: Stephane Cardinale - Corbis/Corbis via Getty Images Kim Kardashian. Photo: Stephane Cardinale - Corbis/Corbis via Getty Images

Kim Kardashian is expanding her brand globally.

According to The Financial Times, the "Keeping Up with the Kardashians" star has sold a 20 per cent stake in her KKW beauty line to Coty for $200 million.

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The strategic partnership of Coty x KKW will allow Kardashian's beauty brand to expand its gob reach with existing products and whole new categories.

Kardashian will continue to lead the creative side of the brand alongside her current team.

"Partnering with an established organization like Coty will be instrumental in the advancement of my brands as their global reach allows for faster expansion so people around the world are able to experience new launches first hand," she said. "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.”

Kylie Cosmetics CEO Exits After 5 Months in the Role

  Kylie Cosmetics CEO Exits After 5 Months in the Role Kylie Cosmetics CEO Exits After 5 Months in the RoleOn Tuesday, June 2, Coty announced that Christoph Honnefelder is exiting the company after joining in January. He will be replaced by Simona Cattaneo, who currently serves as Coty’s president of luxury brands.

deals . Coty Expands Kardashian Empire Tie-Ups With $ 200 Million Bet. News of the deal comes after Seed Beauty, Kardashian West ’s partner for her beauty line, won a court order temporarily blocking the reality TV star from sharing trade secrets in their agreement as she pursued the stake sale.

Coty Inc. has signed a licensing deal with Kim Kardashian West and is paying $ 200 million for a 20 percent stake in her existing beauty business, which consists of color cosmetics and fragrance. The licensing agreement covers categories that Kardashian West hasn’t yet entered, including skin care

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Peter Harf, Coty Chairman and Chief Executive Officer, added, “Kim is a true modern day global icon. She is a visionary, an entrepreneur, a mother, a philanthropist, and through social media has an unparalleled ability to connect with people around the world. This influence, combined with Coty’s leadership and deep expertise in prestige beauty will allow us to achieve the full potential of her brands.”

The partnership comes after Coty purchased a 51 per cent stake in Kardashian's half-sister Kylie Jenner's brands.

After news of the deal broke, Kardashian's husband, rapper Kanye West, took to social media to offer his congratulations — and drop the news that she has now joined the billionaire's club.

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