Coty sells its stake in Kim Kardashian's beauty brand to SKIMS

Reuters

Fri, Mar 21, 2025, 4:02 PM 1 min read

(Reuters) - CoverGirl genitor Coty said connected Friday it would merchantability its 20% involvement successful world TV prima Kim Kardashian's quality marque to her covering line, SKIMS, consolidating the 2 businesses nether a azygous brand.

Coty, which acquired a involvement successful Kardashian's quality business, SKKN, successful 2021, said it would usage the proceeds from the merchantability to trim indebtedness and put successful innovations crossed its broader marque portfolio.

The New York-based lipstick shaper has been struggling to assistance sales, owing to muted spending from cost-conscious consumers amid rising inflationary woes.

Last month, Coty chopped its yearly nett forecast and posted a astonishment driblet successful quarterly revenue, joining its larger adjacent Estee Lauder successful taking a deed connected income from weakness successful Asia question retail business.

Anna von Bayern, CEO of Kylie Cosmetics and person of Kim Kardashian's quality concern astatine Coty besides said the institution would proceed to enactment with Kylie Cosmetics brand.

In 2023, Kim Kardashian was said to beryllium successful talks with Coty to bargain backmost a number involvement successful her quality steadfast arsenic portion of an effort to grow SKKN's quality categories.

Coty did not supply the purchasing terms of the involvement and did not instantly respond to Reuters petition for comment.

(Reporting by Anuja Bharat Mistry successful Bengaluru; Editing by Vijay Kishore)