Kim Kardashian Wants to Buy Back SKKN Stake From Coty — Retail Bum

Kim Kardashian’s beauty brand SKKN is in talks with Coty to regain the minority stake the fragrance and cosmetics company acquired in its business.

As of yet, the value of the stake has not been confirmed, and it remains to be seen whether the discussions will result in a deal, according to unnamed sources quoted by the Wall Street Journal.

Coty had originally bought a 20% stake in SKKN BY KIM in 2022, valuing the brand at $1 billion.

“Kim shares our true passion for beauty products, and this acquisition allows us to leverage our respective strengths for mutual benefit and value creation,” said Coty chief executive officer Sue Nabi at the time of the announcement.

“She has a unique ability to read the latest beauty and wellness trends, while we have the expertise on global product positioning, access to a vast global distribution network, and the resources to enter new beauty categories.”

It was anticipated that with the acquisition, Kardashian would oversee the creative aspects of product development, communication, and promotion. Meanwhile, Coty would concentrate on formulating the products and supporting the beauty brand’s expansion into new categories.