Kim Kardashian’s Shapewear Line Skims Is Reportedly Worth $1.6 Billion After New Investment
While Kim Kardashian is a billionaire in her own right, her shapewear line Skims has surpassed the milestone as well.
Skims is now worth $1.6 billion after a recent series of investments of $154 million, according to an interview the 40-year-old reality star did with The New York Times Friday (April 9th). New York venture firm Thrive Capital is said to be one of the lead investors. The company is headed by Josh Kushner, whose wife model Karlie Kloss, is a good friend of Kim Kardashian’s.
With the new influx of money, Skims said it aims to expand its items and potentially get into retail stores internationally. The brand also projects that sales will reach $300 million in 2021, nearly double the $145 million it made in 2020 amid the COVID-19 pandemic.
Kim Kardashian said of Skims:
“We’re your basics go-to. We’re still able to keep that shapewear core.”
When naming her a billionaire, Forbes previously said Skims was worth at least $500 million, and Kim Kardashian’s stake was roughly $225 million, helping her maintain her status as the largest shareholder.
Skims is Kim Kardashian’s latest company to reach a billion-dollar value. Last year, she sold 20 percent of her stake in KKW Beauty to cosmetics giant $200 million, bringing its value to $1 billion.
She said she’s not against selling Skims under the condition she would stay on board.
“I would never want to give up my process. I would hope that whoever we partner with in a sale one day would believe in that too.”
Kim Kardashian launched Skims in 2019. It sold out almost immediately, making millions within minutes.
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