Shapewear Success! Kim Kardashian’s Skims Has Doubled Its Valuation to $3.2 Billion

usmagazine.com:

On a roll! Kim Kardashian’s shapewear line Skims has doubled its valuation to $3.2 billion after raising $240 million in new funding round.

The announcement, which was first reported by Bloomberg, was made on Thursday, January 27. “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,” the 41-year-old fashion designer said in an email.This news follows the April 2021 report that Skims, which was launched in 2019, was valued at $1.6 billion.

According to the outlet, the brand is only continuing to grow with a projection of $400 million in sales this year. While Skims started out as a shapewear brand, Kardashian has grown her business to encompass everything from loungewear and underwear to luxury dresses and coats.

She recently announced that she is continuing her partnership with Team USA. The brand was named the official sponsor of undergarments and loungewear for the Tokyo Olympics and will also be providing Skims for the Winter Games, which kick off in February.