From Stocktwits: 2025-03-24 00:52:00

Coty, Inc. (COTY) sells its 20% stake in Kim Kardashian’s beauty business, SKKN, to improve cash position. The stake was acquired for $200 million in 2021. Proceeds will be used to reduce debt and invest in innovations across its brand portfolio. Coty will continue partnership with Kylie Cosmetics. The company struggles with weak demand trends due to cautious consumer spending amid inflation. Citi raises rating on Coty shares to ‘buy’ with a price target of $80. Sentiment on Stocktwits is bullish, with users discussing potential benefits for Coty during the summer season. Shares trade at $5.56, down 20.1% year to date.



Read more at Stocktwits: Coty Sells Entire Stake In SKKN Back To Kim Kardashian: Retail Applauds Move