Just when you thought Kim Kardashian and her shapewear brand SKIMS couldn’t get more popular, it did. Only four years into its existence this company is now worth $4 billion dollars, so I guess all those viral bikini pics the reality star has been posting and all the hype surrounding her brand has really paid off, literally.
SKIMS recently raised $270 million in its latest round of funding, per NYT. Due to this final round of funding, the company has officially skyrocketed from the $3.2 billion valuation from last year up to $4 billion. According to Jens Grede, SKIMS chief executive, the company is officially profitable and is predicted to make $750 million in sales this year, which is up $250 million from last year.
The article noted that the company started as a shapewear line, but these days that does not make up the majority of its sales. As you can see in the viral advertising Kardashian has done on social media, SKIMS also sells swimwear and loungewear, and it’s working to expand. Starting next fall, the reality star’s company will start selling men’s wear too.
On top of expanding its products, SKIMS is also looking to bring its company into the world of brick and mortar retail as it has plans to open stores in New York City and Los Angeles.
With this kind of exponential growth the article explained that there’s a possibility SKIMS could go public sooner than later. Two of the reasons why this is assumed is that Wellington Management has invested in the company, and Kardashian and her team hired a CFO last year. According to Grede, the shapewear brand “deserves to be a public company.”
Last year, Kim Kardashian officially became worth more than Kylie Jenner because of SKIMS, in part, along with her other companies like KKW Beauty. Now, it’s only grown even more, with no intention of stopping.
Thinking about all this growth, I can’t help but look back on just how present SKIMS has been this summer on social media. Recently, Kim K. went viral for her faux leather bikini shoot as she promoted her latest line of swimwear. On top of viral moments with their actual product, SKIMS has also been releasing clothing that is extremely trendy. These black faux leather suits fit perfectly with the trend of black bikinis this summer, for example.
As Kim Kardashian’s company hits this massive benchmark, it feels noteworthy that SKIMS has been capitalizing on and pioneering some of fashion’s biggest trends, like Barbiecore. On top all that having the name recognition the reality star has and having other household names, like Jessica Simpson rock items from SKIMS it helps bolster the brand’s identity and recognition.
Overall, looking at the ways this company has impacted the zeitgeist and how it is constantly working to hop on trends and create conversations around its items, it’s success isn't much of a surprise to me. As SKIMS continues to kill it, you can learn a bit more about the company and the woman behind it by checking out The Kardashians, which is currently airing on the 2023 TV schedule, with a Hulu subscription.
