Coty: Skims acquires stake in SKKN by Kim

Coty Inc. has sold its shares in the SKKN by Kim brand.

The US cosmetics company has sold its 20 percent stake in Kim Kardashian's cosmetics brand to Skims, Coty announced on Friday. Following the transaction, the shapewear provider co-founded by the media personality and businesswoman will combine the beauty and lifestyle ventures under one brand.

"We are the preferred partner for global brands, fashion houses, and celebrities seeking to develop leading beauty products," said Anna von Bayern, CEO of Kylie Cosmetics and head of Kim Kardashian's beauty business at Coty. "I would like to thank Kim for the partnership and look forward to continuing our work on our highly successful Kylie Cosmetics brand, which we have grown 1.5x in size over the past two years and for which we hold a majority stake and a perpetual license."

Coty first announced its investment in Kim Kardashian's beauty business in 2020 and completed the transaction the following year.

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