While there have been reports about prestige cosmetics sales declining this past year, Kardashian West, 39, said her companies KKW Beauty and KKW Fragrance are doing better than ever.
“I’m very active during sales and launches,” the beauty mogul said in an interview with WWD. “We’ve doubled in a year. It just makes me proud of the brand and makes me want to push to do exactly what I want to do and continue to make the products that I love and stay true to the authentic collaboration.”
Kardashian West is already gearing up for her next big launch — a second collaboration with her longtime makeup artist, Mario Dedivanovic, called KKW x Mario: The Artist & Muse collection, on sale Friday. WWD reports that their first product line, which debuted in 2018, was KKW Beauty’s biggest launch that year.
The duo have both been teasing the new collab on social media and Kardashian West told the outlet that this time Dedivanovic had “full rein” in the creation process. “He’s been working on formulas and colors for about a year now. We knew we wanted to do it around holiday.”
Kardashian West has yet to sell any of her beauty or fashion brands to a larger organization, but her 22-year-old sister made headlines on Monday when she sold a 51 percent stake in her Kylie Cosmetics and Kylie Skin business to Coty for $600 million. Coty owns other major beauty brands including Covergirl, OPI, Rimmel, GHD and Clairol. The sale valued Jenner’s company at almost $1.2 billion.
“I’m excited to partner with Coty to continue to reach even more fans of Kylie Cosmetics and Kylie Skin around the world. I look forward to continuing the creativity and ingenuity for each collection that consumers have come to expect and engaging with my fans across social media,” Jenner said in a release.
She added: “This partnership will allow me and my team to stay focused on the creation and development of each product while building the brand into an international beauty powerhouse.”
Through the partnership, Coty sees potential in expanding distribution of Kylie Cosmetics and Kylie Skin into more retailers, both in the U.S. and internationally. Coty will leverage its global knowledge in R&D, manufacturing, distribution, commercial and go-to-market expertise, according to the release. Jenner will continue to lead all creative efforts of product development and communication initiatives.
During an interview with CNBC’s Squawk Box one day after the sale was announced, Kris Jenner discussed her daughter’s business move. “Yesterday was a really big day for Kylie and our team at Kylie Cosmetics. [It was] truly a moment for our family to be proud,” Kris, who’s also the CEO of Jenner Communications, said. “It’s kind of a crystallization of all our work.”
Kris continued: “It’s also a moment to just look forward and be really excited about the future. I think the goal is to just keep building Kylie’s existing beauty business into a global powerhouse brand. That’s the vision.”