Kim Kardashian is keeping up with business.
Four years after striking a $200 million deal with Coty—the parent company behind makeup brands Sally Hansen and Max Factor—for 20 percent of her beauty business, the Kardashians star has bought back the stakes with plans to fold it into her SKIMS empire.
“My mission has always been to create products that resonate deeply—whether it’s shapewear and lingerie that empowers or make-up and skincare that transforms,” Kim shared in a March 24 press release. “Uniting everything under the SKIMS brand streamlines that vision.”
According to SKIMS, the new deal will expand the company’s portfolio beyond apparel into beauty, skincare and fragrance.
“This acquisition isn’t just growth,” SKIMS CEO Jens Grede added in his own statement. “It’s about the strength of our brand and our ability to enter a new category with authority.”
The acquisition, however, does not affect Coty’s 51 percent stake in Kylie Cosmetics, the beauty company Kim’s sister Kylie Jenner founded in 2014 and sold in a $600 million partnership deal in 2019.