admin Celebrity siblings Kylie Jenner and Kim Kardashian are exploring options to buy back ownership of their brands from Coty Inc., signaling strained relations between the entertainment figures and the beauty conglomerate.
Kylie Jenner sold a 51 percent stake in Kylie Cosmetics for 600 million dollars in 2020. Similarly, Kim Kardashian’s company, SKKN by Kim, was also acquired by the beauty group in the same year.
According to Bloomberg Ms Jenner has had discussions about reclaiming the 51 percent, as has Ms Kardashian to repurchase the 20 percent stake Coty acquired for 200 million dollars.
Both celebrities have expressed discontent with Coty’s management of their brands. The Kardashian-Jenner family’s association with Coty began in 2019, and the initial investments aimed to leverage the family’s popularity for brand growth.
The Kardashian-Jenner clan are seasoned entrepreneurs, having leveraged their celebrity to market everything from dieting shakes to waist trainers to a music festival that was mired in controversy. All have their own lucrative businesses, with sibling Khloe Kardashian a co-founder of denim brand Good American and Kendall Jenner the founder of 818 Tequila.
Coty has had a stellar year, reporting its latest financial figures last week, which saw it achieve its twelfth consecutive quarter of results ahead of expectations.
Forbes said disagreements over price, valuation and management of the brands could be the reason for the potential split of Coty and Kylie Cosmetics. Ms Jenner’s cosmetics business is thought to have seen double digit sales increases last quarter, as per Bloomberg.
