SKIMSclothing brand founded by Kim KardashianIt recently reached an important new milestone in its short but profitable production history: The company has actually raised $270 million in its latest round of financing, which has significantly increased the business’s valuation. 4 billion dollars,
In terms of the company’s ownership split, it is important to note that Kim Kardashian is still the largest individual shareholder of SKIMS, with a stake of approx. 35% in the company, This means that Kanye West’s ex-wife can currently claim an equal share of the net worth $1.7 billion,
SKIMS’ new valuation values the company he co-founded with business partner Emma Grede in 2019 at more than twice that of much more established competitor Victoria’s Secret, which saw sales decline 6% last year and currently has a market capitalization of $1.6 billion.
The underwear, loungewear and shapewear specialist is on track to record its highest-grossing year in the brand’s short history, and is anticipating accumulation $750 million in revenue By the end of 2023: Starting with its traditional line of slimming bodysuits and clothing, pajamas and swimwear, the brand has also ventured into menswear (soon to be added to the catalogue), thus managing to diversify and attract a wider audience.
Furthermore, after being very successful with its temporary pop-up store initiative, SKIMS plans to open two stores in 2024, one in New York and the other in Los Angeles.