Beauty company Coty has sold its 20% stake in the SKKN by Kim brand to SKIMS, Kim Kardashian’s shapewear and apparel company. Post-deal, SKIMS is set to consolidate beauty and lifestyle ventures. The financial terms of the transaction have not been disclosed.

Coty acquired 20 percent of KKW Beauty, for $200 million in 2021. Now that stake will belong to Skims, while Kardashian’s 80 percent stake will also be transferred to Skims. Coty plans to use the proceeds to progress deleveraging strategy and invest in wider brand portfolio innovations

Coty and Kardashian are parting ways, with the entrepreneur’s shapewear brand now housing all of her clothing and beauty businesses under one umbrella