Kim Kardashian has earned significant achievement in her business during a funding round.
Her shapewear company co-founded by Jens Grede, Skims, raised $225billonin a funding round led by Goldman Sacha Alternatives.
According to The Richest, after this investment her business is now valued $5billon, a significant increase and signals that investors strongly believes in its growth.
In 2023, Skims completed a funding round of $270 million, which valued the company at $4 billion.
The funding round accelerated the rollout of retail locations and brought Skims into physical stores for the first time. As of now, Skims has 18 retail spaces located in cities like New York, Los Angeles, Austin, Atlanta, and Boca Raton, Florida.
“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 Omni channel retail brand,” said Kardashian.
Her business is actively diversifying its product lineup with additions in new style segments, such as, the NikeSkims collaboration, first announced in February, which focuses on women’s performance and lifestyle apparel, with footwear and accessories also in development.
The company’s campaigns have featured various A-listers to increase brand exposure, including aris Hilton, Megan Fox, Kate Moss, Brooke Shields, Teyana Taylor, Snoop Dogg, SZA, Lana Del Rey, Ice Spice, Neymar, Sabrina Carpenter, and Rosé.
In its first year, the company sold over three million products, quickly building a loyal customer base. In 2020, it moved to gain complete control of its beauty-related assets.
By 2024, the brand had crossed $1 billion in net sales, fuelled by its expansion into underwear, loungewear, menswear, and headline-making collaborations.
