SKIMS, the shapewear brand co-founded by Kim Kardashian and Jens Grede in 2019, is now valued at $5 billion.
That’s the figure cited in a recent announcement from the clothing label, which is soon set to expand its roster of physical stores with a location in Nashville, Tennessee.
Per press notes, SKIMS completed a $225 million capital raise, with a new valuation adding another billion to 2023’s widely reported figure. Financing was led by Goldman Sachs Alternatives, with BDT & MSD Partners’ affiliated funds also taking part.
Speaking on the news of the $5 billion valuation, Kardashian, a recent guest on Complex’s GOAT Talk, looked ahead at the company’s goal of taking its presence “to the next level” in the months and years to come.
“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,” said Kardashian, who also serves as chief creative officer. “We can’t wait to take SKIMS to the next level as we continue to innovate and set the standard for our industry.”
The brand also shared its potential to top $1 billion in net sales this year.
In the six years since the inception of Kardashian’s passion project, the SKIMS journey has included high-profile collaborations with the NBA and the Olympics, campaigns with celebrities including Charli XCX and Lana Del Rey, and most recently, a full range of activewear with Nike.
Read the full article here
