What’s up y’all, it’s Emile Ennis Jr. with Clevver News, and it looks like a billionaire
battle between the sisters is about to break out, because Kylie Jenner’s Billionaire
status has officially been dethroned by Kim Kardashian West.
It seems Kim Kardashian took a page out of Kylie Jenner’s book of wealth over the past
few years as her KKW Beauty empire has grown tremendously.
From makeup pallets and body shimmers to fragrances and many different collaborations with her
famous siblings, Kim’s beauty empire has exploded so much that as of this week, it’s
being reported that after signing a new deal, KKW has officially outgrown Kylie Cosmetics.
According to the Daily Mail, KKW has been valued at a billion dollars, as Kim just signed
a deal with Coty Inc., to sell a 20% stake in the company for $200 million.
Coty also recently bought a 51% stake in Kylie’s company for $600 million last year.
The beauty brand, which TMZ reported acts as a licensee for skin, hair, personal and
nail products, also made the announcement via Instagram yesterday, writing QUOTE, “We
are thrilled to welcome one of the most influential beauty icons to the Coty family: @kimkardashian
West!
With Kim’s influence and our deep expertise in prestige beauty we will build a beauty
powerhouse and enter new beauty categories together.”
Unlike Kylie’s deal with Coty, Kim will still be in charge of her company, and to
break this down into simpler terms, Kim’s deal is for a more “long-term strategic
partnership to launch products in new beauty categories and expand across the globe from
top to bottom.”
This means that Kim is still in charge of the business, having only given up a 20% stake,
and if the company paid $200 million for one fifth of the brand, that would mean they value
the entire company at a billion dollars, annnnd that’s officially more money than I can
even begin to fathom…
TMZ also reported that Kim and her team have been working on this deal with Coty for quite
some time after KKW was recently sued by Seeds Beauty because they were reportedly worried
she would spill trade secrets to Coty.
Kim issued a statement sharing her excitement about taking on this new chapter with KKW,
saying QUOTE, “Partnering with an established organization like Coty will be instrumental
in the advancement of my brands as their global reach allows for faster expansion so people
around the world are able to experience new launches first hand.”
She added, “This relationship will allow me to focus on the creative elements that
I’m so passionate about while benefiting from the incredible resources of Coty, and
launching my products around the world.”
The deal is expected to close later this year, however, there has been no word as to when
new products will launch given the obvious and current state of the world.
As many fans might already know, Forbes named Kylie as the world’s youngest self-made
billionaire back in 2019, but last month the outlet shared an article completely stripping
Kylie of her title and claiming that she had been inflating business figures and even ‘forged’
her taxes.
Kylie seemed to be just as taken aback as the rest of the world, when she took to Twitter
to slam all allegations in Forbes’ article, including forging her taxes.
She wrote, “what am i even waking up to.
i thought this was a reputable site.. all i see are a number of inaccurate statements
and unproven assumptions lol. i’ve never asked for any title or tried to lie my way
there EVER. period.”
Forbes still has yet to respond to Kylie’s tweets but we are sure she is happy for her
big sis.
Meanwhile, Kim seems to be celebrating her major deal on social media, as she was seen
leaving Nobu with her hubby Kanye West in Malibu over the weekend after returning home
from their family ranch in Wyoming, as seen by the nature of their recent photo together.
Kim also posted a photo of herself yesterday with the caption, “So blessed and forever
grateful,” which appears to have “BILLIONAIRE BOSS” written all over it.
Kanye even broke his recent social media silence to congratulate his wife on her major achievement.
He shared a photo of fresh produce and flowers laying out in the sun, with a sweet, but kinda
unusual message, in typical Kanye fashion.
He wrote, “I am so proud of my beautiful wife Kim Kardashian West for officially becoming
a billionaire.
You’ve weathered the craziest storms and now God is shining on you and our family.
So blessed this is still life.
So I made you this still life.
We love you so much.”
But Kim isn’t the only one who has something to celebrate…
Kanye was named a billionaire by Forbes earlier this year for his Yeezy partnership with Adidas.
Not to mention, Yeezy and clothing retailer Gap also just announced a ten-year partnership
for a Yeezy Gap clothing line, set to drop next year, so it’s safe to assume that Kim
and Kanye are pretty set for life.
The news also comes after reports that Kanye has already filed a trademark to launch a
beauty brand featuring a wide range of cosmetics and skincare products under the Yeezy label,
according to legal documents obtained by TMZ.
And since the beauty industry has proven successful for Kim and Kylie, we’re certain Kanye will
take his next venture by storm.
For more Kardashian updates, click right over here to see Rob’s major weight loss transformation.
Then be sure to let me know all your thoughts on Kim’s new billionaire status right down
here in the comments.
I’m your host Emile Ennis Jr., see you next time!