Kim Kardashian Reportedly In Talks To Buy Back Beauty Business Stakes From Coty: WSJ
Portfolio Pulse from Benzinga Newsbot
Kim Kardashian is reportedly negotiating to buy back the minority stake in her beauty company, SKKN BY KIM, from Coty Inc. (NYSE:COTY). The sale price and other details are yet to be finalized. Coty had acquired a 20% stake in the business three years ago, valuing it at $1 billion. Kardashian's move is seen as an effort to expand SKKN’s beauty categories.
July 12, 2023 | 5:04 am
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NEUTRAL IMPACT
Coty Inc. may sell its 20% stake in SKKN BY KIM back to Kim Kardashian. The details of the deal are yet to be finalized.
The news of Kim Kardashian buying back her stake from Coty Inc. could potentially impact the company's stock price. However, the details of the deal are yet to be finalized, making it difficult to predict the exact impact on the stock price. The news is highly relevant as it directly involves Coty Inc. and its stake in SKKN BY KIM.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100