Coty Inc. (NYSE: COTY) and Kim Kardashian West reported entry into a strategic transaction to develop Kardashian West’s business on a global scale. The two entities will focus on new beauty categories and global expansion beyond existing product lines. Kardashian West will lead all creative efforts in product and communications initiatives that build on her global reach capabilities via social media.
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.”
Kim Kardashian West commented: “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. 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.”