Kim Kardashian West Achieves Billionaire Status
Kim Kardashian West's brand has skyrocketed to billionaire status thanks to KKW's deal with cosmetic conglom Coty Inc. Per the $200 million deal, Coty now has a 20% stake in her business, TMZ reports.
West tells TMZ: "This relationship will allow me to focus on the creative elements that I'm so passionate about while benefiting from the incredible resources of Coty, and launching my products around the world."
The deal is reportedly for a long-term strategic partnership to launch products and grow the brand across the globe. Coty, famously, purchased a majority stake in West's sister Kylie Jenner's brand for $600 million, launching her to billionaire status. Though, as many fans will recall, Forbes demoted Jenner from her youngest-billionaire status this year, reporting that she'd fudged her numbers, a claim she staunchly denies.