Coty hit global headlines last year when the multinational acquired a majority stake in Kylie Cosmetics for US$600 million.
In recent weeks, the buyout has been at the centre of adverse publicity, following claims by Forbes that founder, Kylie Jenner, was not one of the world’s youngest billionaires as it had previously affirmed.
The global business media heavyweight has now said that its earlier assessment had been based on an inflated value of the Kylie Cosmetics brand.
Kylie Skin, Ms Jenner’s skincare range, is currently being rolled out in 25 countries across Europe.
Coty also welcomed a new CEO, Peter Harf, and a new president of luxury brands, Simona Cattaneo, at the beginning of June.
Coty are now trying to harness the appeal of another member of the Kardashian-Jenner clan.
According to the multinational, which is the third largest beauty company in the world, talks are in progress with Kim Kardashian-West for “a possible collaboration with respect to certain beauty products”.
Kardashian-West launched her best-selling KKW beauty brand three years ago.
The franchise now offers a full colour cosmetics line and fragrance portfolio.
The move is in line with Coty’s new emphasis on accelerating its beauty and fragrance brands.
The company recently sold a majority stake in its Professional Beauty arm to private equity giant, KKR.