Kim Kardashian’s shapewear brand, Skims, has just hit a whopping $5 billion valuation after securing $225 million in new funding led by Goldman Sachs Alternatives. This is a major milestone for the brand, which was founded in 2019 and has quickly become a household name.
Key Highlights:
– $5 Billion Valuation: Skims’ new valuation is a testament to its rapid growth and success in the shapewear and fashion industry.
– $225 Million Funding: The funding round was led by Goldman Sachs Alternatives, with participation from BDT & MSD Partners.
– Global Expansion: Skims plans to use the new capital to expand its physical retail business, open more stores globally, and enhance its international presence.
– $1 Billion Sales Target: The company expects to surpass $1 billion in net sales this year, making it a major player in the fashion industry.
Skims has been praised for its inclusive sizing, viral marketing, and strategic partnerships, including a collaboration with Nike. The brand has become a cultural phenomenon, with a strong online presence and a loyal customer base. With its new valuation, Skims is poised to take the fashion world by storm.
