HomeEXCLUSIVEKim Kardashian’s Skims Is Now Valued At $4 Billion: From A Shapewear...

Kim Kardashian’s Skims Is Now Valued At $4 Billion: From A Shapewear Startup To A Multi-Billion-Dollar Apparel Empire

Just a few days after a heartwarming testimonial of how Skims shapewear saved a woman’s life, the apparel company has hit an astounding valuation of $4 billion.

It’s been an impressive four years since Kim Kardashian co-founded Skims, and the brand’s worth has skyrocketed to $4 billion. In a recent funding round, Skims raised a staggering $270 million, contributing to its increased valuation from last year’s $3.2 billion.

Kim Kardashian and her business partner, Jens Grede, have successfully transformed Skims into a major apparel brand, achieving their initial goals. “It has grown quickly and we’re so proud of that,” Kardashian said in an interview. “We’ve had a really good flow of product launches.”

Initially focused on shapewear to offer customers comfort in body-hugging clothing, Skims has since expanded its offerings significantly. From loungewear to swimwear, the brand has diversified its portfolio and has plans to venture into men’s clothing this fall.

Primarily conducting sales online, Skims has ambitious plans to open flagship stores in Los Angeles and New York City next year.

Grede revealed that the company is now profitable and on track to reach $750 million in sales this year, a significant increase from $500 million in 2022. Approximately 15 percent of its online customers are international, and nearly 70 percent of its overall customer base consists of millennials and Gen Z individuals.

Skims’ popularity is evident from its remarkable growth trajectory. Within the last year, a staggering 11 million people have joined waitlists to purchase the brand’s most sought-after items, which tend to sell out shortly after release.

Such impressive growth and market demand made Skims an attractive investment opportunity for executives looking to raise funds. Asset manager Wellington Management led the latest funding round.

Skims’ journey from a shapewear startup to a multi-billion-dollar apparel empire is a testament to Kim Kardashian’s entrepreneurial prowess and the brand’s undeniable appeal in the fashion industry.

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