Kim Kardashian's SKIMS Doubled Its Value to $3.2 Billion USD
The shapewear brand is now worth twice as much as nine months ago.
Kim Kardashian‘s success keeps skyrocketing, and her SKIMS line proves it. The shapewear brand, which she launched in 2019, has recently doubled its value in the last nine months to $3.2 billion USD after raising $240 million USD in its latest funding round.
“This latest round will allow us to focus on bringing more innovations and solutions to our customers and become even more of a trusted resource for them,” Kardashian said via email.
In April, SKIMS was valued at $1.6 billion. In 2021, sales surged 90% generating a revenue of roughly $275 million USD. This year, SKIMS sales are predicted to hit $400 million USD.
“We see an opportunity with Skims to create our own category in retail, just like how we believe Lululemon and Starbucks created their own categories in their respective areas,” Kardashian’s business partner Grede said. “That’s really why we’re doing this, to make sure we’re best prepared for the future.”
One of SKIMS’ biggest launches was her 2021 collaboration with Fendi, which earned $1 million USD during its opening minute.
Check out the Fendi x SKIMS collab below.
View this post on Instagram
