Update: Kim Kardashian’s SKIMS Clothing Line Is Officially Worth $4 Billion

Kim Kardashian

Update: Kim Kardashian’s SKIMS Clothing Line Is Officially Worth $4 Billion

Update: (Jul. 19, 2023): Kim Kardashian is definitely in her bag!

News broke last week that Kim’s SKIMS company was nearing the $4 billion valuation mark and it now looks like the brand has hit the golden line. According to new reports, the popular company raised $270 million in a recent round of funding, increasing its overall value to the grand figure.

This is roughly $1 billion more than the $3.2 billion the apparel/shapewear business was valued at last year.

It may come as no surprise that hedge funds and investment firms were so willing to add more capital to the company, as SKIMS appears to have no problem pushing its product line. Reportedly, the brand has estimated it will hit $750 million in sales for 2023 after bringing in $500 million in 2022.

Reports also note that SKIMS has plans to launch a men’s clothing line this fall, which only means more money for the already lucrative company.

[VIA]

Original story: (Jul. 13, 2023): It seems reality TV star Kim Kardashian continues to see major success as an entrepreneur.

According to recent reports, the 42-year-old SKIMS co-founder recently told investors the business will soon be valued at close to $4 billion while pitching for new partners.

Reportedly, Kim Kardashian is hosting a second round of fundraising, hoping to get new hedge funds and investment firms to add more capital to the company. The current pitch meetings are reportedly pre-IPO (initial public offering), which in case you’re unfamiliar, refers to “the process of offering shares of a private corporation to the public in a new stock issuance for the first time.”

Previously, Kardashian reportedly managed to secure $240 million worth of investments in her initial round of fundraising, doubling the brand’s valuation to $3.2 billion. It’s also noted that the newest fundraising campaign comes while the company is seemingly on track to bring in around $1 billion in sales this year alone. This greatly surpassed their expectation of $750 million in sales, and reportedly being close to an increase of 100% year-over-year.

Just last month, the shape-wear and clothing brand was featured on TIME magazine’s top 100 companies list. During the interview, Kardashian candidly spoke about how the need for shapewear that matched her and her friends’ various skin tones inspired the apparel company. In September 2019, the Hulu star launched SKIMS with her co-founder and business partner Jens Grede. The success of the line has greatly added to the influencer’s entrepreneur portfolio and helped her net worth grow to a now reported $1.2 billion.

Kim Kardashian

Though the TV personality is the brand’s single largest individual stakeholder, Kardashian’s ex, Kanye West reportedly benefits from the growing company as well. Despite losing his billionaire status, the Donda artist reportedly still holds a 5% stake in SKIMS. If you recall, West lost a ton of lucrative deals last year following a string of commentary many viewed as problematic and antisemitic. Reportedly, the musician’s net worth currently sits at around $400 million.

Neither Kardashian nor any SKIMS reps have commented publicly about the new valuation of the company, nor have they addressed a time frame for potentially going public.

[VIA]

Are you shocked to hear about SKIMS valuation? Let us know in the comments section below!