Kim Kardashian’s shapewear brand Skims is valued at a staggering $4 BILLION – two years after the reality star-turned-fashion mogul achieved billionaire status
- Kim, 42, first launched the shapewear line in 2019 with Jens Grede, 45
- It’s now valued at a whopping $4 billion, according to the New York Times
- A firm that regularly invests in companies before going public has invested in it
Kim Kardashian’s booming apparel brand Skims may be on the brink of going public – as it was recently revealed that the company has been valued at a whopping $4 billion, just four years after it was created.
The reality star, 42, first launched the shapewear line in 2019 with Swedish entrepreneur Jens Grede, 45, and it has since expanded into one of the most popular clothing companies on the globe.
It was initially created as an online retailer that sold undergarments designed to fit people of all sizes of colors, but it now offers a slew of other products like swimsuits, dresses, shorts, T-shirts, pajamas, hoodies, leggings, and even socks.
While it began strictly online, a series of high-end retailers like Nordstrom and Saks have slowly been adding its items to their racks.
Kim Kardashian’s booming apparel brand Skims may be on the brink of going public – as it was recently revealed that the company has been valued at a whopping $4 billion
Kim, 42, first launched the shapewear line in 2019 with Swedish entrepreneur Jens Grede, 45, and it has since expanded into one of the most popular clothing companies on the globe
It was initially created as an online retailer that sold undergarments designed to fit people of all sizes of colors
It now offers a slew of other products like swimsuits, dresses, shorts, T-shirts, pajamas, hoodies, leggings, and even socks
And now, it has plans to open its two flagship stores next year – one in Los Angeles and another in New York City.
While it began strictly online, a series of high-end retailers like Nordstrom and Saks have slowly been adding its items to their racks – and it has plans to open its two flagship stores next year
‘It has grown quickly and we’re so proud of that,’ Kim told the New York Times recently. ‘We’ve had a really good flow of product launches.’
Skims has certainly expanded rapidly. When it first came out in 2019, it was said that it sold more than $2 million of merchandise within 10 minutes.
By 2021, it was valued at $1.6 billion, and in January 2022 it was said to be worth $3.2 billion. Now, it’s estimated to be worth a whopping $4 billion.
And according to the publication, its on track to earn $750 million in sales this year – $250 million more than last year.
Skims recently received $270 million in funding from a slew of investors including Wellington Management – a New York-based firm which is well known for teaming up with companies right before they go public.
And Wellington’s involvement has left experts convinced that Skims is about to enter the market.
When asked about it by the Times, Jens refused to give a timeframe – but he confirmed that it’s definitely something on his and Kim’s minds.
By 2021, Skims was valued at $1.6 billion, and in January 2022 it was said to be worth $3.2 billion. Now, it’s estimated to be worth a whopping $4 billion
And according to the New York Times, its on track to earn $750 million in sales this year – $250 million more than last year
‘It has grown quickly and we’re so proud of that,’ Kim told the publication recently. ‘We’ve had a really good flow of product launches’
‘At some point in the future, Skims deserves to be a public company,’ he stated.
As Skims continues to flourish, Kim and Jens admitted that they are facing some problems – but nothing they can’t handle.
They told the publication that their biggest difficulties include ‘managing inventory as the company expands its offerings and opens physical stores, as well as competing against companies offering steep discounts as consumers cut back on discretionary spending in the face of high inflation.’
Skims recently received $270 million in funding from a slew of investors including Wellington Management – a New York-based firm which is well known for teaming up with companies right before they go public
Kim reportedly has a 35 per cent stake in Skims, giving her both majority ownership and creative control of the company.
She previously told Time Magazine that idea to create a shapewear brand came from her own needs.
‘It started off with simply finding shapewear that was a skin tone that would match my color, ‘ she explained.
‘I used to take my shapewear and dye it with tea bags and coffee in the bathtub.’
Her ex-husband Kanye West has a five per cent stake in the company.
Back in October 2021, six months after the Keeping Up With the Kardashians alum filed for divorce from the rapper, she admitted that he still had a big part in the brand.
‘He has a piece of Skims himself and gives [the team] inspiration but also information,’ she told Wall Street Journal. ‘Kanye will always be the most inspirational person to me.’
The musician, 46, became furious in October 2022, when it was revealed that Joshua Kushner had invested in Skims through his venture capital firm, Thrive Capital – and had a bigger stake in it than he did.
Joshua, who is married to Karlie Kloss, had reportedly invested $154 million and now owns 10 per cent of the brand.
Kanye said during an appearance on Tucker Carlson Tonight: ‘You know, I had dinner with Ivanka [Trump], Jared [Kushner], and Josh [Kushner] and a couple of days later, I found out that Josh had 10 per cent of Skims, which is a line that I had developed with Kim.
Skims recently received a slew of media attention after a consumer claimed that her undergarment from the brand saved her life after she was shot
Angelina Wiley opened up about the terrifying incident in a TikTok video, and she said: ‘I was wearing a Skims shaping bodysuit. It was so tight on me that it kept me from bleeding out’
Kim was named as a billionaire in April 2021, and her net worth has now estimated to be around $1.4 billion. She’s seen in a Skims ad
‘I said, “Hey, Josh, what if I had 10 pe rcent of Karlie Kloss’ lingerie shapewear swimsuit line, and you had five per cent of it, and you didn’t know? How would that make you feel?”
‘As a person that has really built something from nothing, when I sit across the table from Josh Kushner, and he just feels so entitled to that idea and this person has never brought anything of value other than so-called being a good venture capitalist, I have a major issue with that.’
Skims recently received a slew of media attention after a consumer claimed that her undergarment from the brand saved her life after she was shot.
Angelina Wiley opened up about the terrifying incident in a TikTok video, and it left many people on the web praising the apparel company.
‘This New Year’s I got shot four times. The night I got shot, under my dress, I was wearing a Skims shaping bodysuit,’ she said.
‘It was so tight on me that it literally kept me from bleeding out. I recommend it. I’m definitely gonna buy some more. I mean, I should wear it every day. It’s like body armor for women.’
‘Call it fate or Jesus, but, Imma call it Kim. Imma call it Kim for sure. Kim Kardashian saved my life.’
In a separate TikTok shared by Angelina, she revealed that the night of the shooting she was wearing the Seamless Sculpt Thong bodysuit, which retails for $68.
The piece is made from 78 per cent nylon and 22 per cent spandex, and gives ‘extra compression at the core and waist.’
Kim achieved official billionaire status in April 2021, and her net worth has now estimated to be around $1.4 billion.
On top of her stake in Skims, which was said to be worth $900 million last year, she also owns her own mobile game, called Kim Kardashian: Hollywood, as well as a skincare line, entitled KKW Beauty, and perfume line, called KKW Fragrance.
She also reportedly makes $10 million per year from her participation in the family’s reality show, The Kardashians, per Forbes.
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