Kim Kardashian West's beauty line, KKW, has partnered with a huge cosmetics conglomerate, but the real news is how much the brand is supposedly worth.
TMZ reports Coty Inc. made a $200 million investment for a 20 percent stake in KKW, meaning Coty values the brand at a cool $1 billion.
Under the agreement, the cosmetics conglomerate will act as a licensee for skin, hair, personal and nail products for the KKW brand.
"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," Kim told TMZ.
The deal has apparently been in the works for months.
Kim and the Kardashian-Jenner family are very familiar with Coty. In November 2019, Kylie Jenner sold Coty a 51 percent stake in her hugely successful Kylie Cosmetics brand for $600 million.
As the majority owner, Kim will still call the shots in regards to KKW under the terms of her new deal.
The Coty transaction is expected to close in the third quarter of 2021.
The Kardashian-Jenner family has been moving full speed ahead in the beauty world. Kylie Cosmetics includes not only Kylie's makeup line, but it also houses Khloe Kardashian's Koko Kollection. Kendall Jenner is also preparing to launch a makeup collection called Kendall By Kylie Cosmetics. Likewise, in mid-June, Kim's husband, Kanye West, filed trademarks to get in on the beauty and fragrance businesses, too.