From Tik-Tok-viral bodysuits to ‘shapewear’, Skims – the underwear company founded by Kim Kardashian just four years ago – just completed a capital raise at a stunning $4 billion valuation.
The $270 million funding round was led by Wellington Management Group and joined by Greenoaks Capital Partners, Skims said in an emailed statement Wednesday.
The new funding round values the company at $4 billion, up from the $3.2 billion valuation investors gave the company last year.
The clothing maker has raised a total of $670 million from investors including D1 Capital Partners and Imaginary Ventures.
“It has grown quickly and we’re so proud of that,” Ms. Kardashian said in an interview.
“We’ve had a really good flow of product launches.”
Skims is set to break $750 million in net sales this year, according to Chief Executive Officer Jens Grede.
“Kim and I can envision a future where years from today there’s a Skims store anywhere in the world you’d find an Apple store or a Nike store,” Grede said.
NYTimes reports that going public remains one of the company’s goals. “At some point in the future, Skims deserves to be a public company,” he said.
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https://www.zerohedge.com/markets/kim-kardashians-underwear-company-valued-4-billion
