Kim Kardashian has achieved a new milestone. Her shapewear line skims is officially worth $4 billion after she closed a funding round.
The news comes after a tittoker claimed the underwear saved her life. Per the story, the shapewear prevented her from bleeding out after being shot four times.
Kim Kardashian co-founded the company with Emma Grede and Jens Grede in 2020. Four years later, the clothing brand has become a unicorn over four times.
Looking back to when Kim started the company, one would think it was an easy feat. Their flagship product was shapewear to help their customers fit into body-hugging clothes.
Kim Kardashian’s Skim has since tapped into other markets designing products such as loungewear and swimwear. With the new funding, Skins will expand into men’s clothing this fall.
Skims has raised $270 million in a new funding round bring it’s valuation to $4 billion. The company is yet to announce major development.
As of last year, Kim Kardashian’s Skim was worth about $3.2 billion. The reality tv star worked tirelessly with her partners to become a global brand.
Finally, it seems to be paying off. And with funding, Skim may be able to launch its physical stores to sell to customers directly first in Los Angeles and New York City.
Per Kim Kardashian’s partner Mr. Grede, Skim is projected to make up to $750 million in sales this year, up from $500 million in 2022.
Statistics also show that 15 percent of its online customers come from outside the United States, and nearly 70 percent of its overall customers are millennials or Gen Z-ers.
Over the last year, he said, 11 million people have joined wait lists to buy the brand’s most popular items, which often sell out.
As of now, Kim Kardashian is Skim’s company’s single biggest shareholder, and together she and Mr. Grede still own a majority stake.
Her other businesses include skin care, fragrances, and even a private equity firm. The Skim’s founder and her partner are on the move to turn Skim into the next big apparel brand.
“It has grown quickly and we’re so proud of that,” Kim Kardashian said in an interview. “We’ve had a really good flow of product launches.”
TSZ U.S. has reached out to Kim Kardashian via her Instagram for a statement. We will update you as soon as we get a reply.
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