Coty and Kardashian are parting ways. The beauty conglomerate has sold its 20% stake in the SKKN by Kim brand to Skims, the lifestyle company co-founded by Kim Kardashian and Jens Grede. In parallel, Skims also purchased Kim Kardashian’s 80% majority stake in SKKN.
Thus, Skims will be uniting Kim Kardashian’s beauty and lifestyle ventures under one brand, including Kim Kardashian’s all beauty NIL rights. The financial terms of the deal were not disclosed.
SKKN by Kim was founded in 2022 following the closure of Kardashian’s cosmetics and fragrance lines KKW Beauty and KKW Fragrance in 2021 and 2022 respectively as part of a rebrand. Coty acquired 20% of KKW Beauty in 2021 for USD 200 million.
Through this acquisition, Skims aims to expand its portfolio beyond apparel into beauty, skincare, and fragrance, with plans to start launching in 2026.
"My mission has always been to create products that resonate deeply—whether it’s shapewear and lingerie that empowers or make-up and skincare that transforms," says Kim Kardashian, Skims Chief Creative Officer and Co-Founder. "Uniting everything under the Skims brand streamlines that vision."
"This acquisition isn’t just growth," says Jens Grede, CEO and Co-Founder of Skims. "It’s about the strength of our brand and our ability to enter a new category with authority."
Anna von Bayern, CEO of Kylie Cosmetics and leader of Kim Kardashian’s beauty business at Coty, says: “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 1.5x in the last two years and where we own the majority, as well as hold the perpetual license.”
