Kim Kardashian’s Skims Shapewear Line Now Valued at $3.2 Billion

Kim Kardashian’s Skims has turned out to be a gold mine.

According to recent Bloomberg report, the reality TV star’s shapewear line is now valued at $3.2 billion—a 100 percent increase since April 2021. The news comes shortly after the company announced it had raised $240 million in a series B funding round, which included investors like hedge fund Lone Pine Capital, D1 Capital Partners, Thrive Capital, Imaginary Ventures, and Alliance Consumer Growth.

“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 told the outlet via email.

Kardashian co-founded Skims in 2019 alongside company CEO Jens Grede. Since then, the brand has expanded its offerings to loungewear and basics, including everything from dresses and footwear to pajamas and hoodies to leggings and boy shorts. The brand has also secured partnerships with the US Olympic Team as well as Italian fashion house Fendi; the latter of which reportedly generated $3 million in sales within minutes of its launch.

Last year, Skims increased its sales by 90 percent to $275 million. According to Bloomberg, the company is projected to hit $400 million in sales in 2022. Grede said Skims intends to use the additional capital to expand its presence in the retail space and to land more collaborations.

“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 told Bloomberg. “That’s really why we’re doing this, to make sure we’re best prepared for the future … We are continuously working on collaborations, partnerships and events. More to come.”