Kim Kardashian eyes billionaire status as she sells KKW Beauty stake

Kim Kardashian has agreed to sell a 20% stake in her beauty brand KKW Beauty (Picture: David Buchan/Variety/REX)Kim Kardashian is said to be looking at billionaire status after agreeing to sell a 20% stake in her brand KKW Beauty to Coty.
The $200m (£160m) deal, set to close later this year, will value her brand at $1bn (£800m) according to its terms, say BBC.
The reality TV star said the collaboration will allow her space to get creative and help launch her products globally.
She said in a statement: ‘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.’
Meanwhile Coty added that the company will have ‘overall responsibility’ for developing skin, hair and nail products for KKW Beauty.
‘Through the relationship each party will leverage its unique strengths to further build a high growth, direct-to-consumer beauty brand,’ Coty said.
On Instagram Coty went on: ‘With Kim’s influence and our deep expertise in prestige beauty we will build a beauty powerhouse and enter new beauty categories together.’
More: Kim Kardashian

The news comes weeks after Kim’s half sister Kylie Jenner was stripped of her ‘youngest self-made billionaire’ title given to her by Forbes magazine in a scathing editorial from the publication.
The 22-year-old hit back on Twitter, calling Forbes’ report ‘unproven assumptions’.
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