SKIMS is a brand that creates underwear, loungewear, and shapewear that is revolutionary in its design.
According to Forbes, Kim Kardashian’s SKIMS is now worth $3.2 billion, bringing her net worth to $900 million.
Apparently, Forbes reports a phenomenal rise in her company’s valuation after it attracted new investors, resulting in an additional $240 million investment. The company was valued at $1.6 billion in April last year.
|SKIMS Net Worth||$3.2 billion (Last Updated 2022)|
|Kim Kardashian Net Worth||$900 million (Last Updated 2022)|
Skims was founded by reality TV star Kim Kardashian. Besides her role as co-founder, Kardashian actively promotes Skims on social media. She also remains active in product design and marketing. Additionally, Kardashian holds the most shares in Skims. About 35 percent of the company belongs to her.
According to Forbes, Skims raised $240 million from hedge fund Lone Pine Capital, alongside D1 Capital Partners, in addition to past investors Alliance Consumer Growth, Imaginary Ventures, and Thrive Capital.
The investment increased the company’s value from $1.6 billion in April 2021 to $3.2 billion.
The deal is also a big win for the Kardashian(41-year-old), who owns a majority of Skims, as does CEO Jens Grede.
Keeping up with Kim
Celebrities have been spotted wearing the Skims items, notably Kourtney Kardashian, Billie Eilish, and Kanye’s girlfriend Julia Fox.
Kim, who will be filming a new Hulu reality series, titled The Kardashians, plans to grow the company even further.
Jens Grede, chief executive officer of Skims, said: “We see an opportunity with Skims to create our own category in retail, just like how we believe Lululemon and Starbucks created their own categories in their respective areas”.
“That’s really why we’re doing this — to make sure we’re best prepared for the future.”