By Sabela Ojea
Coty and Kim Kardashian are parting ways in a transaction that would allow the reality star and entrepreneur to bring her beauty brand SKKN by Kim under the Skims umbrella.
Coty didn't disclose financial details of Friday's sale of its 20% stake, announced Friday. But the company, whose portfolio of cosmetic brands includes CoverGirl, acquired its interest in SKKN by Kim for $200 million in 2021.
Los Angeles shapewear company Skims was co-founded by Chief Executive Jens Grede and Kardashian as its creative chief.
Coty will continue doing business with Kardashian's half-sister Kylie Jenner.
"I look forward to continuing our work on our hugely successful Kylie Cosmetics brand," said Anna von Bayern, chief executive of Kylie Cosmetics, of which Coty is the majority shareholder.
The Wall Street Journal reported in July 2023 that Coty and Kardashian had been in talks for her to buy back her stake in SKKN by Kim, citing people familiar with the matter.
Write to Sabela Ojea at sabela.ojea@wsj.com
(END) Dow Jones Newswires
March 21, 2025 18:40 ET (22:40 GMT)
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