In 2021, Coty Inc. closed a 20% stake in Kim Kardashian's growing beauty business. But, as early as 2023, there were rumors that Kardashian wanted out. Now comes word that Coty Inc. has finally sold off its 20% stake in SKKN by Kim to Kardashian's Skims. Coty will continue its partnership with Kardashian's half-sister, Kylie Jenner, under the Kylie Cosmetics 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.”
