John C. LaBonty, the former CEO of Boldface Group, the celebrity beauty licensing company filed a suit in California state court last week, against Momager, Inc. and Kim, Khloe and Kourtney Kardashian among others alleging that the Kardashians refused to compensate him in accordance with his stake in the company.
According to LaBonty he is owed an amount between $6 million and $32 million thanks to the 5 to 9 per cent stake that he was promised by the Kardashians despite the restructuring of Boldface in 2014 in order to avoid bankruptcy following financial distress connected to the initial launch of Kardashian Beauty (originally named Kardashian Khroma) in 2012, which was far from a huge success.
LaBonty has detailed his claims of breach of contract like breach of covenant of good faith and fair dealing, intentional interference with prospective economic advantage, and intentional interference with contractual relations.
Additionally – and in line with what has been set out in previous lawsuits involving the Kardashians and their makeup collection – LaBonty’s suit makes mention of how the Kardashians alleged stopped marketing, promoting or supporting the brand, despite their contractual obligations to do so.
Instead, it appears at least two of the Kardashian/Jenners – Kim and Kylie – have shifted their efforts to promoting their own individually-owned makeup collections, KKW Beauty and Kylie Cosmetics.
At a press conference this summer, Kim Kardashian was heard to have said, “This year has been really exciting for me because it’s the first time I’ve moved away from having licensing deals and transitioned into being an owner.”
In its June issue, Forbes has said, “Kardashian promises expansion into additional makeup products and revealed plans to premiere a fragrance later in the year. It will be her first solo foray into cosmetics since licensing her name to Boldface for an ill-fated line of makeup with her sisters Khloe and Kourtney. This time, though, Kim will be in control.”
