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Coty stock jumps after possible collaboration with Kim Kardashian announced

Coty Inc.
COTY,
+6.32%

shares jumped nearly 7% In Wednesday premarket trading after the beauty company announced in a filing that it was in talks with reality TV star Kim Kardashian on a possible collaboration. Coty already has a $600 million deal with Kardashian’s sister Kylie Jenner, whose line is called Kylie Cosmetics. Coty said in the filing that it will not comment further on the talks. Coty stock has tumbled 62.8% for the year to date while the S&P 500 index
SPX,
+1.01%

is down 4.6% for the period.

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