Coty in talks to collaborate with Kim Kardashian for cosmetics line

Coty in talks to collaborate with Kim Kardashian for cosmetics line

Reality TV personality Kim Kardashian attends a public discussion during the World Congress on Info
FILE PHOTO: Reality TV personality Kim Kardashian attends a public discussion during the World Congress on Information Technology (WCIT 2019) in Yerevan, Armenia October 8, 2019. Vahram Baghdasaryan/Photolure via REUTERS

LONDON: Coty is in talks with reality TV star Kim Kardashian West over a potential collaboration for a beauty line, the cosmetics maker disclosed in a regulatory filing on Wednesday (Jun 3).

The company already has a majority stake in West's half sister, Kylie Jenner's makeup and skincare line, which it bought last year for US$600 million.

The holding recently came under the scanner after Forbes magazine alleged that Jenner had been overplaying the value of her cosmetics brand.

Coty's new chief executive officer said on Monday the allegations came as a "mystery" to him.

Shares of the company rose nearly 7 per cent on Wednesday after the possibility of another collaboration with the family, adding to the 20 per cent gains in Coty's stock seen earlier this week, when it named chairman Peter Harf as its new CEO.

Coty, however, said there was no assurance that an agreement or collaboration would be reached and did not provide any further details.

West, who is known for chronicling her life with her sisters on TV's "Keeping Up with the Kardashians", launched her own makeup line in 2017, two years after Jenner's successful foray into the beauty industry.

Source: Reuters

Bookmark