Kardashian West sells stake in beauty brand

NEW YORK — Kim Kardashian West is selling a stake in her beauty brand for $200 million in a deal that values the TV reality star’s three-yearold business at $1 billion.

The buyer is Covergirl owner Coty Inc., which will get a 20% stake in KKW Beauty.

Kardashian West founded KKW Beauty in 2017 and tapped into her hundreds of millions of social media followers to sell lip gloss, body foundation and perfume. The 39-year-old will still promote KKW Beauty online and will help create new products. Shares of New York-based Coty rose more than 13% to close at $4.74 on Monday.