Coty in Talks With Kim Kardashian After Kylie Jenner Deal
(Bloomberg) -- Coty Inc. can’t seem to get enough of the Kardashians.
The cosmetics company is in talks with Kim Kardashian West for a possible collaboration “with respect to certain beauty products,” according to a regulatory filing. The possible partnership comes just months after Coty closed a $600 million deal with the reality TV star’s sister, Kylie Jenner.
Another tie-up would further entwine Coty in the Kardashian web of reality shows and social media, tying the beauty company’s prospects more tightly to the family’s ability to appeal to consumers. Coty agreed last month to sell Clairol and other brands for $4.3 billion in part to prioritize investment in Kylie Cosmetics.
Chief Executive Officer Peter Harf, who was named to the post this week, said that he’s “good friends” with the family’s business manager Kris Jenner, who’s also Kardashian West’s and Kylie Jenner’s mother. “I’m very proud that the Jenner family is working with us and have access to them and to other people who are big opinion leaders on social media,” he said on a conference call with analysts Monday.
Coty climbed 3.4% to $4.33 a share at 9:36 a.m. in New York.
Management seems undeterred by last week’s accusation from Forbes that Kylie Jenner misled the magazine about her finances, sending Coty shares tumbling. Jenner responded that “all I see are a number of inaccurate statements and unproven assumptions.”
Coty acquired a majority stake in Kylie Cosmetics in a deal that closed in January valuing the business as about $1.2 billion. Jenner’s line became popular for its lip kits that pair a liquid lipstick with pencil lip liner. Kardashian has her own business, KKW Beauty, which is known for its body contour products.
Coty has already pledged to take Jenner’s brand global, committing significant resources to expanding the business by tapping her international fan base. Kylie Skin, her skincare line, entered 25 European countries last week.
Coty didn’t provide details in the filing of the possible Kardashian West deal, and a representative for the company declined to comment. Representatives for Jenner Communications, Kris Jenner’s firm, didn’t immediately respond to a request for comment before regular business hours.
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