Kim Kardashian West Says Goodbye To KKW Beauty Company!
Since Kim Kardashian West beauty company has been hit by legal woes, the Keeping Up With The Kardashians star is bouncing. Read on to see why Kim Kardashian West wants to sell KKW Beauty…
CelebNHealth247.com reports that the ‘Keeping Up With The Kardashians’ star is keen to sell a portion of her business to Coty but Seed Beauty, who is currently a partner in Kim’s business.
The only problem is that Kim Kardashian West‘s plan to sell a stake in her beauty company might be derailed since Seed Beauty has got a court order to block Kim from sharing beauty secrets with Coty.
Seed Beauty feels that it would be an “unfair competitive advantage” to let their rivals see Seed’s “most sensitive and highly confidential information.”
Kim’s current business partner Seed said in a statement:
We are pleased that the court recognized the threat posed to Seed, and we will take further action as needed to protect our rights and business agreements.
Meanwhile, Kim’s sister Kylie Jenner recently sold a majority stake in her cosmetics company to Coty for $600 million.
The ‘Keeping Up With the Kardashians’ star gave 51 per cent of her make-up and skincare businesses to beauty giant Coty – which owns around 77 brands including Hugo Boss, Burberry, Rimmel and Max Factor – in exchange for the lump sum.
This is how Kylie became a billionaire and it appears Kim Kardashian is taking Kylie’s lead to become the second billionaire in the Kardashian family.
The 22-year-old make-up guru said:
I’m excited to partner with Coty to continue to reach even more fans of Kylie Cosmetics and Kylie Skin around the world. I look forward to continuing the creativity and ingenuity for each collection that consumers have come to expect and engaging with my fans across social media. This partnership will allow me and my team to stay focused on the creation and development of each product while building the brand into an international beauty powerhouse.
Kylie will still work alongside her team to lead creative efforts and communications, though Coty will have overall responsibility for Kylie’s company.
Kim is trying to do the same thing.