Kim Kardashian is reportedly in negotiations to buy back the minority stake in her beauty company, SKKN BY KIM, from Coty Inc. COTY, reports The Wall Street Journal.
Why It Matters: The sale price and other details of the deal are yet to be finalized. Coty had acquired a 20% stake in the business, then known as KKW Holdings, three years ago, valuing it at $1 billion. SKKN BY KIM offers a range of skincare products, with prices ranging from $43 to $95.
See Also: Kim Kardashian’s Skims Brand Began In A Bathtub: I Dyed Shapewear With Tea & Coffee
What’s Next: Kardashian’s move to buy back Coty’s stake is seen as an effort to expand SKKN’s beauty categories. Besides her beauty business, Kardashian has also ventured into undergarments and apparel with her business, Skims, valued at $3.2 billion last year. She also co-founded SKKY Partners, a firm focused on investing in consumer and media businesses.
Read Next: Keeping Up With Kim Kardashian: She And Ex-Carlyle Executive Debut PE Fund SKKY Partners
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