Reality TV star-turned-entrepreneur Kim Kardashian has launched one other fundraising round for her shapewear brand Skims that goals to value the corporate at near $4 billion in anticipation of a possible initial public offering, in response to a report.
The brand is on course to register sales figures of around $1 billion this 12 months — a rise of around 100% year-over-year, in response to Women’s Wear Each day.
The corporate, which has branched out from its bodysuits catalog to items corresponding to pajamas and bathing suits, initially hoped to hit net sales of around $750 million this 12 months.
Last 12 months, Skims raised $240 million primarily from hedge funds and investment firms including Josh Kushner’s Thrive Capital, Lone Pine Capital, and D1 Capital Partners — doubling the brand’s valuation to $3.2 billion.
The Post has sought comment from Skims.
Skims was co-founded by the 42-year-old Kardashian, whose net price was pegged by Forbes at $1.2 billion, and her business partner, Jens Grede, 4 years ago.
Kim Kardashian’s shapewear brand Skims has launched one other fundraising round.skims/Instagram
Kardashian’s ex, Kanye West, holds a 5% stake in Skims. His net price was slashed to $400 million from $2 billion, in response to Forbes, after several major retailers cut ties with the rapper’s lucrative clothing line over his anti-semitic rants.
The “Keeping Up With The Kardashians” star is Skim’s largest individual shareholder.
Her business portfolio also features a minority stake in KKW Beauty, which she sold for $200 million last 12 months to Coty Inc.
The Wall Street Journal reported Tuesday that she is in talks to purchase back the brand.
Kardashian’s latest fundraising round values the corporate at around $4 billion, in response to a report.Steven Klein
Kardashian, who co-founded Skim in 2019, is claimed to be eyeing an initial public offering.Steven Klein
Kylie Jenner, Kim’s half-sister, is claimed to be price $680 million after creating her own beauty brand, Kylie Cosmetics.
Coty also acquired a majority stake in Kylie Cosmetics in a deal valued at $1.2 billion. Kylie Jenner, 25, reportedly still owns around 44% of her company.
Jenner was originally crowned Forbes’ youngest self-made billionaire in 2018, only to have the title taken away after a recalculation of her net price.
The brand is on course to register sales figures of around $1 billion this 12 months — a rise of around 100% year-over-year.kimkardashian/Instagram
A $4 billion valuation would make Skims greater than twice as priceless as legacy retailer Victoria’s Secret, which saw sales drop 6% last 12 months to $6.3 billion.
Victoria’s Secret has a market capitalization of $1.6 billion.
Last month, Bloomberg News reported that Skims, which was originally founded as a direct-to-consumer business, was planning to open its first flagship retail location in Los Angeles sometime in the primary half of next 12 months.
Kardashian’s net price is claimed to be north of $1.2 billion.kimkardashian/Instagram
A second store is being planned for Recent York.
Skims has retail presence in malls corresponding to Nordstrom and Saks Fifth Avenue.
It also opened temporary pop-up locations in Rockefeller Center in addition to in malls in London.
