Coty to use proceeds to progress deleveraging strategy and invest in wider brand portfolio innovations

New York, NY — Coty its remaining 20% stake in Kim Kardashian’s SKKN by Kim (“SKKN”) brand.

Following the transaction, SKIMS will be uniting the beauty and lifestyle ventures under one brand.

Anna von Bayern, CEO of Kylie Cosmetics and leader of Kim Kardashian’s beauty business at Coty, says: “Since Coty’s establishment over 120 years ago, we have remained at the forefront of consumer innovation. We are the go-to partner for global brands, fashion houses, and celebrities looking to create leading beauty products. I would like to thank Kim for the partnership and look forward to continuing our work on our hugely successful Kylie Cosmetics brand, which we have grown by 1.5x in the last two years and where we own the majority, as well as hold the perpetual license.”

Coty first announced the investment in Kim Kardashian’s beauty business in 2020 and completed the transaction in 2021.

Coty has highly attractive prestige and mass beauty brands across fragrance, color cosmetics, skin and body care and regularly evaluates the potential of each part of its diverse and innovative portfolio. The company’s best-in-class R&D, global manufacturing and distribution footprint allows Coty and its partners to capture consumer demand across price points, channels, categories and markets.