Kim Kardashian West is 1st real billionaire in the family of Kardashian-Jenner after Coty deal
In the family of Kardashian-Jenner, Kim Kardashian West, 39 years old wife of Kanye West who is a musical artist sooner to become the billionaire. After having a deal of around $200 million for selling her beauty KKW business to Coty. Kris Jenner, her first child would become a billionaire.
As per Forbes, Coty deal had a value that $ 1 billion, KKW Beauty, $900 million for Kim Kardashian: Hollywood mobile game as well as shapewear brand Skims. The business of Kylie’s is much smaller and not having much of profit, then that of her family who had spent many years in the media outlets as well as the cosmetic industry
Her younger sister Kylie Jenner as per the financial magazine had given false information about her wealth and sales of makeup. So here, Coty is helping both the sisters to become rich as well as boosting their sales.
As KKW has been known for the color cosmetics as well as highlighters but now with Coty, they will be developing products of skincare, nail, and hair as well.
As per Peter Harf, Coty Chairman and Chief Executive, Kim is a global icon of modern-day and praised her for her business talents. He said that Coty has been owing to Max Factor brands and CoverGirl, doubling on the social media brands for increasing its growth as in the past they had heavy debt load with less demand for their products.
With this, the shares of Coty have increased to 10 percent which is about $ 4.60 a share. As per Coty, the deal of KKW is expected to be closing by the 3rd quarter.