Kylie Jenner’s Company Is Reportedly Being Sued Over Her $600 Million Deal
Seed Beauty are allegedly concerned about protecting their "trade secrets"
Kylie Jenner’s beauty company is reportedly being sued by Seed Beauty in an effort to protect their trade secrets.
Her brand, King Kylie, has recently signed a huge deal with beauty giant Coty. According to TMZ, Seed Beauty have concerns about the details of this deal as they’ve been working with Kylie since 2016.
Seed Beauty reportedly claim they’ve provided tips to ensure the success of Kylie’s brand. Now that Coty have purchased a $600 million stake in the empire, Seed Beauty are thought to be worried about the protection of their secrets.
According to the site, Seed Beauty are allegedly asking a judge to block Kylie and Coty from cashing in on these secrets. They reportedly claim Kylie’s company hasn’t done enough to ensure this information will remain private.
This comes days after it was revealed Kim Kardashian had agreed to sell a 20% stake in her KKW Beauty brand to the same company. On June 29th, TMZ claimed the deal was worth $200 million and would result in her brand being valued at around $1 billion.
In a statement on their website, Coty said the deal with Kim would give them “overall responsibility” for developing skin, hair and nail products for KKW Beauty.
In the article, TMZ alleged that Seed Beauty have filed paperwork to stop KKW Beauty from sharing their trade secrets with Coty.
Whatever’s going on behind-the-scenes, we hope more Kylie Cosmetics and KKW Beauty products will be dropping soon.