Photo: Kevin Mazur/Getty/Nordstrom
Loyal fans ofKim Kardashian’sSKIMSknow what it’s like to sit on a waitlist for the next restock. The mogul’s brand has skyrocketed since its launch in 2019, expanding from shapewear to loungewear and beyond. And it continues to grow.
On Thursday, the 41-year-oldKeeping Up with the Kardashiansalum’s company was valued at $3.2 billion, PEOPLE can confirm. According toBloomberg, SKIMS was valued at $1.6 billion in April of last year.
SKIMS was part of a fresh financing round that discovered the brand had an added valuation of $240 million in cash, SKIMS Chief Executive Officer Jens Grede told Bloomberg. Existing investors Imaginary Ventures, Alliance Consumer Growth and Thrive Capital were also involved.
“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 in a statement.
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Kardashian previously co-founded SKIMS back in 2019. The brand sells shapewear, as well as loungewear, including pajamas and sweatpants. SKIMS has since also expanded to include items such as sleep robes and turtlenecks as well.
“I use shapewear as a solution to my styling needs. I always wanted something that would smooth, and sometimes not necessarily change my shape,” Kardashiantold PEOPLE at the time of launch. “When I wear sheer garments, I used my shapewear to line things like jumpsuits and gowns.”
The news of SKIMS' $3.2 billion valuation comes shortly after it was announced that the brand willcontinue its collaboration with Team USA.
source: people.com
