Biography & Early Wealth Journey

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Kylie, as you may remember, had her billionaire status withdrawn after it was revealed that she may have falsified tax returns in order to seek the valuation of her company to get the Coty deal her cosmetics company was awarded. Like we've been saying all along, Kylie Cosmetic's self-reported sales just don't add up. Yes, her lip kit was wildly popular when it debuted. That fervor for her lip kit has died off substantially, and did so before the pandemic made face masks the must-have accessory and lipstick and lip gloss pretty much pointless.

Coty is all in on the Kardashian-Jenner family and their businesses. Besides KKW and Kylie Cosmetics, Coty also owns MaxFactor and CoverGirl as well as a myriad of other brands. By getting into the Kardashian-Jenner business, Coty hopes to boost its sagging sales. Coty's deal with Kim calls for her to develop new products including skincare, haircare, and nail brands. Currently, KKW sells mostly highlighters.

Primary Income Streams & Multi-Million Contracts

In the press release announcing the deal, Coty called Kim Kardashian West a "modern-day global icon…"

Coty's interest in the Kardashian-Jenner brands is all about leveraging Kim and Kylie's social media presence. The venerable company is looking to breathe some life into the struggling company. It was revealed earlier this summer that a key Coty executive in Kylie and Kim's deals is friends with Kris Jenner and had unprecedented access to the family. Kris Jenner owns an 8% stake in KKW. The deal is expected to close in the third quarter of 2020. Shares of Coty were up 10% on the news of the KKW investment.