Kim Kardashian has made significant achievements in her business during a funding round.
Her shapewear company Skims, co-founded by Jens Grede, raised $225 billion in a funding round led by Goldman Sacha Alternatives.
According to The Richest, after this investment, her company is now valued at $5 billion, a significant increase and a signal that investors strongly believe in its growth.
In 2023, Skims completed a $270 million funding round, valuing the company at $4 billion.
The funding round accelerated the rollout of retail locations and brought Skims to physical stores for the first time. As of now, Skims has 18 retail spaces in cities such as 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 and become a global omni-channel retail brand,” said Kardashian.
Her company is actively diversifying its product range 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 feature several A-listers to increase brand awareness, 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 more than three million products, quickly building a loyal customer base. In 2020, it moved to take full control of its beauty-related assets.
By 2024, the brand had surpassed $1 billion in net sales, fueled by its expansion into underwear, loungewear, menswear and headline-making collaborations.
