Coty is trying to keep up with the Kardashians, as is Wall Street. The cosmetics maker said Wednesday it's in talks with reality TV star Kim Kardashian West over a possible collaboration for a beauty line. She has a makeup business that she launched three years ago.
Coty said there was no assurance that a deal or collaboration would be reached
Coty already has a $600 million deal with her half sister, Kylie Jenner. In November, it bought a majority stake in Jenner's makeup and skincare line, Kylie Cosmetics. That move to tap into Jenner's social media reach boosted its shares at first but they have since fallen sharply.
Jenner drew headlines last week when Forbes magazine alleged she had exaggerated the value and profits of her cosmetics brand. Coty's new CEO Peter Harf said the allegations came as a "mystery" to him.
Coty shares, which jumped on Harf's appointment Monday, added to those gains Wednesday morning on investor hopes of adding Kardashian West to the Coty clan.