Kim Kardashian’s brand hits $5 billion mark

Kim Kardashian’s shapewear behemoth has reportedly marked a milestone, valued $5 billion after raising $225 million in new financing, reports The New York Times.

The company was led by Goldman Sachs Alternatives, the brand was co-founded by fashion mogul, Kim Kardashian and Jens Grede in 2019.

This year, Skims exceeded $1 billion in net sales.  

Previously, it raised $270 million at a $4 billion valuation in 2023.

The money as projection will be used to fund new brick-and-mortar stores both stateside and internationally, adding to a list of existing locations in cities including New York, Los Angeles, Austin, Atlanta, and Boca Raton.

The 45-year-old said, “Today’s announcement validates the hard work of our incredible team and partners who have helped us reach this exciting new chapter, becoming a global omnichannel retail brand.”

Notably, the products are expected to be extended, as the brand launched its largest and most comprehensive collaborative line, NikeSkims.

The project featured elite athletes, counted Serena Williams, gymnast Jordan Chiles, judoka champion Romane Dicko, Paralympic athlete Beatriz Hatz, snowboarder Chloe Kim, world No. 1 golfer Nelly Korda, world champion sprinter Sha’Carri Richardson, and volleyball champion Madisen Skinner.

The brand had established a brilliant creative strategy well before Niki Skims, based on enlisting the world’s hottest figures to model new collections, including Sabrina Carpenter, Charli XCX, Tate McRae, Cardi B, Olivia Munn, and other heavy names.

As CNBC noted, the new investment round could ease the pressure on the fashion label, raising public equity to scale operations.