COTY TO COLLABORATE WITH KIM KARDASHIAN WEST FOR COSMETICS LINE
Coty Inc. disclosed on Wednesday that is planning a collaboration for a cosmetic line with the TV star Kim Kardashian West.
Coty Inc. has been funded in 1904 and is one of the word’s largest beauty company and the largest fragrance company. It owns around 77 brands as of 2018 and has various partnership with other brands such as Alexander McQueen, Bottega Veneta, Gucci, Burberry Beauty.
Kim Kardashian West empire dates back to more recent times, she launched her first make up line in 2017, KKW BEAUTY, a cosmetics collection which debuted with Crème Highlight and Contour kits and quickly sold out. Later that year, Kardashian West launched KKW FRAGRANCE with permanent and limited-edition scents. More recently, she debuted with a comfy clothes collection, SKIMS, which is having great approvals among her followers.
Previously, in 2015, Kyle Jenner, Kim’s half-sister, created the two lines Kylie Cosmetics and, in 2019, Kylie Skin which both had massive achievements in the beauty industry. Forbes magazine has recently posted that Jenner had been overplaying the value of her cosmetics brand, this put under the scanner also Coty Inc. thatlast year bought for $600 million a majority stake in Kyle Jenner’s make up and skincare line. The chief executive of Coty didn’t want to deal with Jenner’s company investigation and declared that for him the whole situation is a “mystery”.
When the news about a possible collaboration with Kim Kardashian West came out on Wednesday, Coty Inc’s shares rose nearly 7%, that were add to the 20% gains in Coty’s stock seen earlier this week. The company, anyway, declared that there is no assurance that the collaboration will succeed and didn’t provide any further details.
By Alice Del Rossi