The American cosmetics group Coty has announced a partnership with TV star Kim Kardashian West. Accordingly, the cosmetics group purchases a share of 20 percent of West's company "NPP Beauty", the company said on Monday in New York.
The transaction has a volume of 200 million us dollars (around 177 million euros) and is expected to be completed in the third quarter of the financial year, 2021, it said further. While the West wants to concentrate in his own words on the creative sectors, takes over Coty responsibility for day-to-day business. Coty shares were up premarket by more than ten percent.
Apparently, it is Coty to develop the brand new high-growth target group, because the NPP Beauty is mainly in teenagers and young adults popular. Your target audience Kim Kardashian West reached mainly through social media. On the photo service Instagram you of 177 million people follow.
last year, the cosmetics company took over the majority of the cosmetics brand of the American TV Stars Kylie Jenner. Coty paid for 51 per cent of Kylie Cosmetics $ 600 million. Kylie Jenner is the younger sister of Kim Kardashian.Updated Date: 29 June 2020, 15:19