Advertisement
Singapore markets closed
  • Straits Times Index

    3,224.01
    -27.70 (-0.85%)
     
  • Nikkei

    40,369.44
    +201.37 (+0.50%)
     
  • Hang Seng

    16,541.42
    +148.58 (+0.91%)
     
  • FTSE 100

    7,952.62
    +20.64 (+0.26%)
     
  • Bitcoin USD

    70,097.51
    -1,288.70 (-1.81%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • S&P 500

    5,254.35
    +5.86 (+0.11%)
     
  • Dow

    39,807.37
    +47.29 (+0.12%)
     
  • Nasdaq

    16,379.46
    -20.06 (-0.12%)
     
  • Gold

    2,254.80
    +16.40 (+0.73%)
     
  • Crude Oil

    83.11
    -0.06 (-0.07%)
     
  • 10-Yr Bond

    4.2060
    +0.0100 (+0.24%)
     
  • FTSE Bursa Malaysia

    1,536.07
    +5.47 (+0.36%)
     
  • Jakarta Composite Index

    7,288.81
    -21.28 (-0.29%)
     
  • PSE Index

    6,903.53
    +5.36 (+0.08%)
     

Coty in talks to collaborate with Kim Kardashian for cosmetics line

Television personality Kardashian attends a panel for the documentary "Kim Kardashian West: The Justice Project" during the Winter TCA (Television Critics Association) Press Tour in Pasadena

(Reuters) - Coty Inc is in talks with reality TV star Kim Kardashian West over a potential collaboration for a beauty line, the cosmetics maker disclosed in a regulatory filing on Wednesday.

The company already has a majority stake in West's half sister, Kylie Jenner's makeup and skincare line, which it bought last year for $600 million.

The holding recently came under the scanner after Forbes magazine alleged that Jenner had been overplaying the value of her cosmetics brand.

Coty's new chief executive officer said on Monday the allegations came as a "mystery" to him.

Shares of the company rose nearly 7% on Wednesday after the possibility of another collaboration with the family, adding to the 20% gains in Coty's stock seen earlier this week, when it named chairman Peter Harf as its new CEO.

ADVERTISEMENT

Coty, however, said there was no assurance that an agreement or collaboration would be reached and did not provide any further details. (https://bit.ly/3eM6Gwx)

West, who is known for chronicling her life with her sisters on TV's "Keeping Up with the Kardashians", launched her own makeup line in 2017, two years after Jenner's successful foray into the beauty industry.

(Reporting by Aishwarya Venugopal in Bengaluru; Editing by Shinjini Ganguli)