“This deal is similar to the one that Coty did with Kylie. The only difference is that Coty is taking a smaller position in Kim’s investment vehicle,” said Peter Harf, ceo of Coty.
Coty Inc. has signed a licensing deal with Kim Kardashian West and is paying $200 million for a 20 percent stake in her existing beauty business, which consists of color cosmetics and fragrance.
“This deal is similar to the one that Coty did with Kylie. The only difference is that Coty is taking a smaller position in Kim’s investment vehicle,” said Peter Harf, Chief executive officer of Coty, in an exclusive statement to WWD. Simultanteously, Harf, the founding partner of Coty’s majority owner JAB and ceo of Coty from 1990 to 2001, returned to the company as ceo. “I’ve known Coty for a long time and there is a lot of potential within this company,” he said.
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