Thursday Bloomberg reported that the brand has doubled its valuation to $3.2 billion in just nine months after raising $240 million in a new funding round. Skims was valued at $1.6 billion in April.
“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 said in an email.
Speaking of innovations, the brand has expanded from shapewear to include pajamas, joggers, sleep robes, turtlenecks, fleecewear, leather and more. According to Bloomberg, shapewear now accounts for less than 20% of Skims sales. Take a wild guess which Skims items are most popular.
If you guessed underwear, you guessed right. We know quite a few folks who have been torn about supporting Kardashian-owned brands, but clearly millions of people have made peace with that conflict because business has been booming.
Last November, the Skims x Fendi collaboration quickly sold out despite the ready-to-wear collection’s hefty pricetags, people still snapped up the $1,100 leggings and dresses for $4,200 — likely because of it’s luxury limited appeal. The move was a large part of why Kim was awarded by the Wall Street Journal.
If you’ve been paying attention you also have likely noticed that Skims has been tapped yet again to partner with Team USA. After being named the official sponsor of undergarments and loungewear for the Tokyo Olympics, Skims will be coming back for the Winter Games in February and the general public will be able to purchase the same collection worn by America’s athletes via the company’s website.
Astute observers have likely noticed that Kim’s been teasing a likely launch of Skims swimwear, with a barrage of recent vacay photos wearing bikinis and wetsuits over the past couple weeks.
What do you think of the Skims brand? Do you hate it or love it? If you’ve tried them out, which of the products are your faves?
Texas Hold 'Em: 6 Times Beyoncé Reminded Us She's A Country Queen
Bad & Boujee: Our Hollywood Faves Dripped Decadently For The Academy Museum Gala
Balenci Bardi: Cardi B Makes Her Debut On The Catwalk For Balenciaga Fall '24 Show
Destiny's Child Reunites & Celebs 'Alien Superstar' Slay At Beyoncé's 'Renaissance' Film World Premiere
So Stunning: Keke Palmer, Janelle Monáe, Tamar Braxton, Coco Jones, & More Attend 2023 BET Soul Train Awards
Fashion Icon Honoree Serena Williams Takes Center Stage At The 2023 CFDA Awards
'Fashion Killa' Writer Sowmya Krishnamurthy Talks Lil Kim's Style Influence And The KanYe Interview That Did Not Happen
Who Wins The Jollof Wars? #SavorTheCulture Gets A Taste Of Senegal's OG Recipe From Brooklyn's Café Rue Dix