Kim Kardashian's underwear brand Skims is now worth $3.2 billion

By Jurassic JennJun 22, 2024 18:37 PMStar Facts
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Kim Kardashian's underwear brand Skims is now worth $3.2 billion
Kim Kardashian's underwear brand Skims is now worth $3.2 billion. Source: www.bloomberg.com

Skims, the underwear brand owned by Kim Kardashian, has skyrocketed in value, reaching an impressive $3.2 billion. This growth comes as no surprise considering Kim's entrepreneurial prowess and the success of her other ventures. In fact, back in April 2021, Forbes declared Kim as a billionaire, attributing her wealth to businesses like KKW Beauty and Skims, as well as income generated from Keeping Up With The Kardashians, real estate investments, and endorsement deals.

However, it's the recent investment surge that has propelled Skims to its staggering valuation. The brand managed to raise an additional $240 million in funding after experiencing a remarkable 90% increase in sales last year. Let's be honest, who could resist the allure of Kim's ultra-comfortable thongs and nightwear, especially during a time when lockdown necessities became must-haves?

Kim herself expressed her excitement about this new investment round, emphasizing how it will allow Skims to focus on innovation and providing even better solutions for their customers. Since its launch in 2019, Skims has successfully gained popularity through various collection releases. Last year, in response to the pandemic, the brand smartly shifted gears to offer cozy loungewear and matching sets that struck a chord with consumers. Notably, the "sculpting bra" and the "Fits Everybody range" emerged as recent viral sensations.

Currently, Skims boasts an extensive product range that extends beyond shapewear. While shapewear now makes up less than 20% of sales, underwear accounts for the majority of the business. Customers can choose from basics like pullovers, sleep robes, turtlenecks, and an array of stylish underwear options. Kim's dedication to promoting her brand is evident, and she regularly shares her Skims pieces with her massive Instagram following.

The brand's sales have been mind-boggling, soaring up by 90% and reaching around $275 million in 2021, a figure that is expected to climb above $400 million in 2022. Even amidst personal challenges like her high-profile divorce from Kanye West, Kim's drive remains evident. Her work ethic and unwavering commitment to her business ventures continue to impress.

With a new flame in her life, the comedian Pete Davidson, and exciting family events like her sister Kourtney's upcoming wedding, 2022 is shaping up to be a tremendous year for Kim Kardashian. It's safe to say that the young girl who confidently claimed "Not bad for a girl with no talent" during her Forbes cover interview in 2016 has undeniably proven herself as a savvy businesswoman, breaking barriers and reshaping the world of fashion and beauty.

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