• Coty Inc. has officially divested its 20% stake in Kim Kardashian's beauty brand, SKKN by Kim, selling it to SKIMS, Kardashian's underwear label. This move marks the end of Coty's partnership with the beauty brand, which it had acquired for $200 million in 2021. The financial terms of the sale were not disclosed, but this strategic decision reflects Coty's ongoing efforts to streamline its portfolio and focus on its core brands, such as CoverGirl and Kylie Cosmetics. The divestiture is part of a broader trend in the beauty industry where companies are consolidating brands to enhance operational efficiency.

• Following the sale, Coty will continue its collaboration with Kylie Cosmetics, indicating a strategic pivot towards brands that align more closely with its long-term growth objectives. The divestiture could potentially impact Coty's financials, as it may lead to a short-term loss of revenue from the beauty segment. However, the company aims to strengthen its market position by concentrating on brands with higher growth potential. This move also highlights the competitive landscape in the beauty sector, where brand consolidation is becoming increasingly common as companies seek to optimize their portfolios.