Kim Kardashian’s Skims worth $5B after latest – Business News
Kim Kardashian’s Skims is now worth a whopping $5 billion because the fast-growing lingerie firm raises money to broaden its retail footprint worldwide.
The underwear and shapewear company raised $225 million in its latest fundraising spherical – climbing its valuation up from $4 billion simply two years in the past, in response to the New York Times.
The attire firm – based by Kardashian and Jens Grede in 2019 – is predicted to rake in more than $1 billion in gross sales this yr because it expands past its lingerie roots, now promoting clothes and accessories.
Kim Kardashian’s underwear and shapewear company is now worth $5 billion after its latest funding spherical. Getty Images for SKIMS
Those embody wacky, headline-grabbing gadgets, like thongs adorned with faux pubic hair, bras with built-in false nipples and facial shapewear.
It plans to make use of the funding to open new shops, particularly worldwide places.
“Today’s announcement validates the hard work of our incredible team and partners who have helped us reach this exciting new chapter, becoming a global omnichannel retail brand,” stated Kardashian, who serves because the model’s chief artistic officer.
Goldman Sachs Alternatives led the funding spherical, together with BDT & MSD Partners.
Skims and representatives for Kardashian didn’t instantly reply to The Post’s request for remark.
Skims at the moment has 18 storefronts in cities together with New York, Los Angeles, Austin, Atlanta and Boca Raton, Fla.
Skims was based by Kim Kardashian and Jens Grede in 2019. SKIMS
The company can also be hoping to proceed launching new merchandise because it prepares to release its collaboration with Nike.
NikeSkims, which the businesses introduced in February, contains “sport-ready shapewear” for girls, together with fitted jackets, sports activities bras and leggings.
Kardashian’s model has already made a title for itself on this planet of sports activities because the official underwear accomplice for the WNBA, NBA and USA Basketball.
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There’s additionally buzz that Kardashian could be trying to construct up her magnificence model again after earlier struggles.
Skims earlier this yr purchased back the 20% stake in Kardashian’s magnificence model that it had offered to Coty.
This month, the company employed Diarrha N’Diaye – who based magnificence model Ami Colé and beforehand labored for Glossier – to run Skims’ magnificence and perfume division.
The company is predicted to rake in more than $1 billion in internet gross sales this yr. Brian Prahl / SplashNews.com
Over the summer time, Skims launched its Seamless Sculpt Face Wrap – a $48 stretchy nylon cloth that wraps across the face and supplies “targeted compression for shaping & sculpting,” in response to the Skims web site.
It’s a potential signal the model is weighing whether or not to lean into skincare and wonder instruments.
Goldman Sachs Alternatives and BDT & MSD Partners are new buyers within the company.
Wellington Management, Greenoaks Capital Partners, D1 Capital Partners, Imaginary Ventures and Thrive Capital have all beforehand invested in Skims.
Skims plans to make use of the funding to open new shops, particularly worldwide places. Olga Ginzburg for the N.Y. Post
Previously, its most up-to-date fundraising spherical happened in 2023, when the company raised $270 million at a $4 billion valuation.
Some have speculated the company would possibly contemplate going public quickly.
Co-founder Grede – who beforehand advised the Times that Skims “deserves” to be a public company – later sought to tamp down hypothesis.
“We might make that position in the future, but that’s not what I’m thinking about,” he advised WWD during an interview late final yr.
