Kim Kardashian’s Skims brand is now worth $4 billion
These outfits are both life-saving and profit-making.
Kim Kardashian’s Skims brand has reached $4 billion in its latest valuation after the shapewear company raised $270 million in a new round of funding, the New York Times reported today.
The astounding figure is close to $1 billion more than the $3.2 billion valuation investors gave Skims last year.
Kardashian, 42, launched her company in 2019, with the brand pulling in $2 million in sales in just a few minutes after its site went live.
After originally focusing on shapewear, the savvy entrepreneur has expanded her line to include everything from sexy swimsuits to comfy loungewear — and Skims’ popularity shows no signs of stopping.
Nearly every drop sells out within minutes, with fans buying up the celeb label’s bras, panties, socks, pajamas and other styles in Kardashian’s signature neutrals (and some new pops of color, too).
According to the New York Times, the brand has estimated it will reach $750 million in sales for 2023 after raking in a stunning $500 million last year.
The news comes after a woman named Angelina Wiley credited a Skims bodysuit for saving her life in a viral TikTok.
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Wiley was wearing one of the $68 bodysuits while she was shot four times in Kansas City, Missouri on New Year’s Eve, sharing that “it was so tight on me that it literally kept me from bleeding out.”
Meanwhile, the “Kardashians” star continues to roll out fresh styles, modeling a nude thong style in some new photos on the Skims Instagram account on Tuesday, writing, “Bodysuits for summer days just dropped and your wardrobe wants in.”
While Skims is expected to expand into menswear and launch physical stores, word is still out on whether body armor is next on the product list.
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