Kim Kardashian Shutting Down KKW Beauty to Launch 'Completely New Brand'
It's the end of an era for Kim Kardashian's beauty brand, KKW Beauty.
On Tuesday, the Keeping Up with the Kardashians star, 40, announced that she will be shutting down KKW Beauty next month in order to relaunch the line under a "completely new brand."
"To our loyal customers, It all started with a contour kit and expanded to eyes, lips, body, and many incredible collections over the past four years," Kardashian began in a statement shared to her social media accounts.
"On August 1st at midnight we will be shutting down the KKWBeauty.com site so that we can come back to you under a completely new brand with new formulas that are more modern, innovative, and packaged in an elevated and sustainable new look," she continued.
"I'm excited to continue to develop and expand my product range and for you to finally be able to experience it the way that I have always envisioned," Kardashian said. "In addition, my team is hard at work to improve the customer shopping experience where you will be able to purchase my beauty and cosmetic offerings in all categories from one single website."
Kardashian added to her fans, "Thank you so much for being on this incredible journey with me, and I promise we won't be gone for too long."
In November 2019, Kardashian — who also founded the shapewear brand SKIMS — revealed that KKW Beauty and KKW Fragrances were both doing better than ever despite reports of declining prestige cosmetics sales.
"I'm very active during sales and launches," she told WWD at the time. "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."
In June 2020, beauty conglomerate Coty announced it had reached a deal with Kardashian to acquire a 20% stake in KKW Beauty for $200 million, valuing the business at $1 billion.
"Partnering with an established organization like Coty will be instrumental in the advancement of my brands as their global reach allows for faster expansion so people around the world are able to experience new launches first hand," Kardashian said in a press release.
"This relationship will allow me to focus on the creative elements that I'm so passionate about while benefiting from the incredible resources of Coty, and launching my products around the world," she added.