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Kim Kardashian’s Skims brand doubled its value to $3.2 billion, Bloomberg reported on January 27. The big news came three years after the “Keeping Up with the Kardashians” star founded Skims in 2019. While Skims began as a shapewear and underwear company, the brand has expanded, offering pajamas, sweatpants, robes, and more. The company announced raising another $240 million after sales rose 90% in 2021. Kardashian said, “This latest round will allow us to focus on bringing more innovations and solutions to our customers and become even more of a trusted resource for them.”
Kardashian and Skims CEO Jens Grede continue to hold a controlling stake in the company, and Grede told Bloomberg there are currently no plans to sell the company or take Skims public. But that doesn’t mean Grede and Kardashian don’t have big plans for their brand. “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,” Grede explained.
Around the same time Bloomberg’s news came out, Us Weekly reported that Kardashian’s boyfriend, Pete Davidson, is supposedly considering buying a home in LA — so in the event he needs a little extra cash, it’s clear his girlfriend would have no problem helping out!
Source: Nicki Swift