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Castamodel

The rumored Kim Kardashian West and Coty Inc. partnership was confirmed today and it’s big. Coty have signed a licensing deal with West’s for a 20 percent stake in her beauty company KKW Beauty with a whopping $200 million paycheck. WWD reports the agreement will enter Kardashian West into some new territories: skin care and eventually personal-care products, hair care and nail.

                                         Kim Kardashians stock photos "Getty Images"


"This deal is similar to the one that Coty did with Kylie. The only difference is that Coty is taking a smaller position in Kim’s investment vehicle,” said Peter Harf, Chief executive officer of Coty, to WWD. Harf put together the deal with Kardashian West, Kris Jenner, and Tiger Chark ceo Lisa Manice.



The deal ensures Kardashian-West will retain creative control of the company and make her worth $1 billion. Slightly less than the $1.2 billion evaluation of her sister’s company, Kylie Cosmetics.

Last week, Kardashian West’s other half Kanye signed a deal to do a collaboration of his YEEZY line with Gap. His brand is valued at $2.9 billion.

written by: Eddie Roche

 
EvaElBey

Kanye West and Gap have partnered  up to create a new clothing line. Kanye’s fashion company Yeezy will introduce his new line mid 2021. The announcement was made  on June 6th 2020 by both companies. According to the  The New York Times reports, Yeezy will follow West’s direction to create“modern, elevated basics for men, women and kids at accessible price points.”

West’s “design vision” will reportedly extend to the way in which the line will be showcased in Gap’s stores and online.

Gap which has suffered the closure of more than 100 North American stores in the last few years, has reportedly agreed to a 10-year deal, with the option to renew after five years. At the halfway point, Gap is reportedly hoping that Yeezy Gap will be generating $1 billion in annual sales.

Posting on Twitter, West shared a proposed logo for the partnership, with the initials YZY written in Gap’s trademark white font and contrasted against a familiar blue background. The latest venture from the rapper comes after he announced plans toThe rapper has filed a trademark for Yeezy Beauty, with a line of products including makeup, fake eyelashes, face masks, moisturisers, nail polishes, body oils, bath gels and shaving creams.

In April, Forbes also officially confirmed that he  is now a billionaire.

Writen by Nick Reilly

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