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OHMYGOSSIP

Kim Kardashian West’s beauty sale faces legal woes

OHMYGOSSIP — Kim Kardashian West’s plan to sell a stake in her beauty company has been hit by legal woes.
The ‘Keeping Up With The Kardashians’ star is keen to sell a portion of her business to Coty but Seed Beauty, who is currently a partner in Kim’s business, has got a court order to block Kim from sharing beauty secrets with Coty as it would be an “unfair competitive advantage” to let their rivals see Seed’s “most sensitive and highly confidential information”.
Seed claimed they have evidence that “strongly suggests” that Coty is using the deal to get confidential information.
Seed said in a statement: “We are pleased that the court recognised the threat posed to Seed, and we will take further action as needed to protect our rights and business agreements.”
Meanwhile, Kim’s sister Kylie Jenner recently sold a majority stake in her cosmetics company to Coty for $600 million.
The ‘Keeping Up With the Kardashians’ star gave 51 per cent of her make-up and skincare businesses to beauty giant Coty – which owns around 77 brands including Hugo Boss, Burberry, Rimmel and Max Factor – in exchange for the lump sum.
The 22-year-old make-up guru said: “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. 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.”
While Coty will have overall responsibility for Kylie’s company, the brunette beauty will still work alongside her team to lead creative efforts and communications.
Pierre Laubies, Coty’s CEO, said: “We are pleased to welcome Kylie into our organisation and family. Combining Kylie’s creative vision and unparalleled consumer interest with Coty’s expertise and leadership in prestige beauty products is an exciting next step in our transformation and will leverage our core strengths around fragrances, cosmetics and skincare, allowing Kylie’s brands to reach their full potential.”

Source: VacationHunter.Online
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