Beauty company Coty has sold its 20% stake in the SKKN by Kim brand to SKIMS, Kim Kardashian’s shapewear and apparel company.
Post-deal, SKIMS is set to consolidate beauty and lifestyle ventures. The financial terms of the transaction have not been disclosed.
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Coty plans to allocate sale earnings towards reducing debt and funding innovation across its broader brand collection.
In the second quarter of the fiscal year 2025, Coty reported net revenue of $1.669bn, a 3% decline compared to the same period of the previous year. The company’s adjusted EPS (earnings per share) for 2Q25 was $0.11, down from $0.25 the previous year.
By the end of the quarter, total debt amounted to $3.459bn, with financial net debt reaching $3.209bn.
The initial investment by Coty into Kardashian’s beauty enterprise came in 2020, with the $200m deal reaching completion the following year.
Headquartered in New York City, Coty offers a selection of prestige and mass beauty brands across various categories, consistently assessing each segment of its innovative portfolio for growth potential.
Kylie Cosmetics CEO and Kim Kardashian beauty business at Coty leader Anna von Bayern stated: “Since Coty’s establishment more than 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 1.5 times in the last two years and where we own the majority, as well as holding the perpetual licence.”
In August 2021, Kardashian closed KKW Beauty, which was followed by the closure of KKW Fragrance in April 2022. She launched SKKN by Kim in August 2022.
SKIMS hinted plans to begin launching beauty and fragrance products in 2026. Kim Kardashian wrote on X: “I have some amazing fragrances coming […] All under SKKN – I wanted there to be one site where you guys can get it all and not go to three places for beauty products. So anything that is applied to the SKKN or helps to accentuate your SKKN will be under the SKKN brand.”
In February 2025, SKIMS partnered Nike for NikeSKIMS, a new brand set to disrupt the global activewear market with innovation for women athletes.
