Kim Kardashian’s Company SKIMS Now Valued At $3.2 Billion

Kim Kardashian’s Company SKIMS Now Valued At $3.2 Billion

#Roommates, Kim Kardashian’s loungewear, shapewear and intimates company SKIMS has been a hit with devoted fans since the brand was launched back in 2019—and that loyalty has now resulted in new valuation for the company to the tune of billions. According to recent financial reports, Kim Kardashian’s company SKIMS is now valued at $3.2 billion, a figure that has doubled within the last nine months.

@Bloomberg reports, a $240 million-dollar financing round, spearheaded by hedge fund Lone Pine Capital and investment firm D1 Capital Partners, had led Kim Kardashian’s popular brand SKIMS to double its value in less than a year. According to the company’s CEO Jens Grede, SKIMS is now valued at $3.2 billion, which is far different from its previous valuation of $1.6 billion back in April 2021.

Speaking about her company’s latest figures, Kim reportedly stated in an email, “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.”

Sales for SKIMS were up about 90% last year, which translated to $275 million in annual sales, however, latest estimates suggest that the brand could reach $400 million in sales this year.

Kim Kardashian and Grede previously obtained a controlling stake in the company—and they reportedly have no plans to sell the business or intend to file for an initial public offering at this time, although that could change in the future.

 

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