After months of speculation, Kim Kardashian and Coty are parting ways.
Skims, Kim Kardashian’s shapewear and apparel company, has acquired Skkn by Kim from Kim Kardashian and Coty Inc.
Coty acquired 20 percent of KKW Beauty, for $200 million in 2021. Now that stake will belong to Skims, while Kardashian’s 80 percent stake will also be transferred to Skims. Coty plans to use the proceeds to progress its deleveraging strategy and invest in wider brand portfolio innovations.
Anna von Bayern, chief executive officer of Kylie Cosmetics and leader of Kim Kardashian’s beauty business at Coty, said: “Since Coty’s establishment over 120 years ago, we have remained at the forefront of consumer innovation. We are the go-to partner for global brands, fashion houses and celebrities looking to create leading beauty products. I would like to thank Kim for the partnership and look forward to continuing our work on our hugely successful Kylie Cosmetics brand, which we have grown by 1.5-times in the last two years and where we own the majority, as well as hold the perpetual license.”
Terms of the deal were not disclosed, apart from that through this acquisition, Skims will open its doors in 2026 to expand into beauty, skin care and fragrance.
“My mission has always been to create products that resonate deeply — whether it’s shapewear and lingerie that empowers or makeup and skin care that transforms,” said Kardashian, Skims’ chief creative officer and cofounder. “Uniting everything under the Skims brand streamlines that vision.”
Jens Grede, CEO and cofounder of Skims, added, “This acquisition isn’t just growth. It’s about the strength of our brand and our ability to enter a new category with authority.”
Skims snagged a $4 billion valuation in 2023 by raising $270 million in a series C funding round, led by Wellington Management and included funds from Greenoaks Capital Partners and existing partners…