Kim Kardashian‘s business just keeps getting better and better!
The mogul is selling a 20 percent stake in KKW Beauty to Coty Inc.—home to some of the world’s largest beauty brands like CoverGirl, Sally Hansen and OPI—for $200 million in a deal that values the famed cosmetics company at $1 billion, according to the Financial Times.
Coty Inc. made the announcement about the strategic partnership on Monday, stating in a press release that together, they will “focus on entering new beauty categories and global expansion” beyond Kim’s existing product lines. This means development in skincare, haircare, personal care and nail products!
As for Kim’s role, she and her team “will lead all creative efforts in terms of product and communications initiatives, building on her remarkable global reach capabilities through social media,” the statement continued.
The move comes just months after Coty made a separate deal with Kim’s sister, Kylie Jenner: a 51 percent stake in the 22-year-old’s makeup company, Kylie Cosmetics, for $600 million.