Since the brand’s introduction in 2019, #Roommates, Kim Kardashian’s loungewear, shapewear, and intimates company SKIMS have been a hit with devoted fans—and that commitment has now resulted in a new valuation for the company in the billions.
Kim Kardashian’s company SKIMS is now valued at $3.2 billion, according to the latest financial records, a figure that has doubled in the last nine months.
According to @Bloomberg, Kim Kardashian’s successful brand SKIMS has doubled in value in less than a year thanks to a $240 million financing round led by hedge fund Lone Pine Capital and investment firm D1 Capital Partners. SKIMS is now valued at $3.2 billion, according to CEO Jens Grede, a significant increase from its previous estimate of $1.6 billion in April 2021.
“This latest round will allow us to focus on bringing more innovations and solutions to our clients and become even more of a trusted resource for them,” Kim reportedly said in an email regarding her company’s latest results.
Last year, SKIMS saw a 90 percent increase in sales, resulting in $275 million in yearly revenue; however, new predictions show that the brand might reach $400 million this year.
Kim Kardashian and Grede already own a controlling position in the company, and they apparently have no intentions to sell it or file for an IPO at this time, but that could change in the future.