“The partnership will allow us to exercise our complementary strengths — I can focus on the creative aspects that I love, and their global reach will unlock faster expansion,' said Kardashian West.
When Coty Inc. revealed that Peter Harf, a founding partner of its majority owner JAB, would become chief executive officer of the beleaguered beauty company, the intent was clear.Twenty-nine days later, Harf made his opening move, announcing Coty would pay $200 million for a 20 percent stake of Kim Kardashian West’s beauty brand, KKW, and that the two had signed a licensing deal for Coty to produce skin-care, hair-care, personal-care and nail products for global distribution.
The question is: Will it be enough? Initial Wall Street reactions to the deal were tempered even as Coty’s stock ended the day up about 13 percent to close at $4.74. Other analysts reacted similarly. “While the goal of cultivating a new global, high-growth d-to-c beauty brand is laudable, at first blush we are not especially positive on this announced deal,” wrote Citi analyst Wendy Nicholson in a report released shortly after the news went public.
“We’re going to capitalize on this strategic opportunity. Our strategy is to focus on the priorities,” said Cattaneo, noting that Jenner and Kardashian West appeal to two very different demographic groups. “Kim resonates very well with older Millennials and Gen X — 60 percent of her followers are over 25. Kylie resonates more with Gen Z and early Millennials. They are two very different communities.
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