Coty Inc. is in talks with Kim Kardashian West.
The two are in discussions “regarding a possible collaboration with respect to certain beauty products,” Coty said in a filing with the U.S. Securities and Exchange Commission on Wednesday. Coty said in the filing that it would not comment further on the potential transaction unless it requires further disclosure.
The ailing beauty company recently bought a 51 percent stake in West’s sister’s company, Kylie Jenner’s Kylie Cosmetics, for $600 million.
On a call with Wall Street analysts Monday, Coty chairman and chief executive officer Peter Harf said he was “good friends” with Kris Jenner and that they had worked on the Kylie deal together for a year and a half. “I’m very proud that the Jenner family is working with us and [we] have access to them and to all other people are big opinion leaders on social media.”
Coty has struggled in recent years, particularly after it bought 41 beauty brands from Procter & Gamble. The company has gone through a revolving door of chief executive officers — Harf is the latest, after former Jimmy Choo ceo Pierre Denis had signed on but never joined the company — and is now dealing with slumping sales due to the coronavirus in addition to continuing the turnaround attempt for the already-lagging mass division.
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