Fans of Kim Kardashian’s SKIMS have experienced the agony of waiting for the next refill. Since its introduction in 2019, the mogul’s business has grown exponentially, spanning from shapewear to loungewear and beyond. And it’s still growing. The 41-year-old Keeping Up with the Kardashians alum’s company was valued at $3.2 billion on Thursday, according to PEOPLE. SKIMS was valued at $1.6 billion in April of last year, according to Bloomberg.
Kardashian’s brand had a 90 percent spike in revenues last year, to almost $275 million. The company now hopes to raise $400 million in 2022, increasing its total capital to $402 million, according to the outlet. According to SKIMS Chief Executive Officer Jens Grede, the company was part of a new funding round that discovered the brand had an additional valuation of $240 million in cash. Imaginary Ventures, Alliance Consumer Growth, and Thrive Capital were among the existing investors. In a statement to the publication, Kardashian said, “This latest round will help us to focus on offering more innovations and solutions to our consumers and become an even more trusted resource for them.”
Kardashian was a co-founder of SKIMS in 2019. Shapewear and loungewear, such as pyjamas and sweatpants, are available from the company. SKIMS has since extended to include sleep robes and turtlenecks, among other goods. “My styling needs are met with the help of shapewear. I’ve always wanted something that would smooth my shape without necessarily changing it “At the time of the introduction, Kardashian told PEOPLE. “I utilized my shapewear to line jumpsuits and dresses when I wore sheer clothing. “SKIMS’ $3.2 billion valuation comes on the heels of the company’s announcement that it will continue to work with Team USA.
Kardashian announced the continuance of her cooperation with SKIMS for the upcoming 2022 Winter Olympics in Beijing, after equipping Team USA in her SKIMS loungewear and underwear for the 2020 Summer Olympic Games in Tokyo.
Each piece in the limited-edition collection will be available for public purchase on SKIMS’ website beginning Jan. 25, just like the initial launch. Each female athlete competing for Team USA in the Olympic and Paralympic Winter Games in Beijing will have access to the complete route to sport. For both sportsmen and viewers, this drop was created with the colder winter temperatures in mind.
“I’m ecstatic that SKIMS and Team USA will continue to collaborate for these Winter Games. These inspirational women inspired our lounge and sleepwear line, and I’m thrilled that Olympic and Paralympic athletes will be wearing SKIMS again during their vacation!” In a news release, Kardashian stated.
