Coty is to acquire a minority share in KKW Beauty, the brand founded by reality star and entrepreneur Kim Kardashian West.
The beauty giant will buy a 20% stake in the beauty and fragrance brand for US$200m, and have overall responsibility for its development in skin care, hair care, personal care and nail products.
Peter Harf, Coty Chairman and CEO, said: “Kim is a true modern day global icon. She is a visionary, an entrepreneur, a mother, a philanthropist and through social media has an unparalleled ability to connect with people around the world.
"This influence, combined with Coty’s leadership and deep expertise in prestige beauty will allow us to achieve the full potential of her brands.”
Meanwhile, Kardashian West added: “Partnering with an established organisation like Coty will be instrumental in the advancement of my brands as their global reach allows for faster expansion so people around the world are able to experience new launches first hand.
"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.”
The company is already in business with the Kardashian-Jenner family.
In November 2019, it announced a deal to buy a 51% stake in Kylie Jenner’s cosmetics and skin care brands Kylie Cosmetics and Kylie Skin for $600m.
Coty was confirmed to be in talks with Kardashian West earlier this month in a company filing.
The deal was slated as a “possible collaboration with respect to certain beauty products”.
However, last week, it emerged that the manufacturer of KKW Beauty, Seed Beauty, had reportedly filed a lawsuit against the beauty brand to protect the sharing of trade secrets and business practices with Coty.