Kim Kardashian’s SKIMS Brand Valued at $1.6 billion

After reports earlier this month that Kim Kardashian is now a billionaire, driven largely through her venture in her beauty businesses, the latest round in Series A funding has seen SKIMS’ value soar to $1.6 billion [€1.34 billion].

The shapewear and loungewear brand, which was founded in 2018, has already sold over four million units on top of the success of Kardashian’s KKW BEAUTY brand.  

This new round of funding worth $154 million [€129.5 million] saw Thrive Capital, a venture capital firm managed by Joshua Kushner (Jared’s brother and Karlie Kloss’ husband). Imaginary Ventures and Alliance Consumer Growth provided extra funding. According to Business of Fashion via Hypebeast, SKIMS will use the money for product innovation, expansion into new categories, a focus on global growth and potentially opening brick-and-mortar locations.

Source: Business of Fashion via Hypebeast