Kim Kardashian's shapewear brand Skims has achieved a valuation of $5 billion after securing $225 million in new funding. Investors, including an arm of Goldman Sachs, participated in this funding round.
The company intends to use these funds to expand its physical retail presence and increase its global reach. Skims plans to focus significantly on its brick-and-mortar stores in the coming years.
Skims anticipates its sales will exceed $1 billion this year, a milestone that has bolstered the company's confidence in pursuing its long-term objectives. The brand, which launched in 2019 with shapewear, has since diversified its offerings to include loungewear and other fashion items, entering the competitive athleisure market.
The brand has leveraged a network of influencers, including members of the Kardashian family and other celebrities, to enhance its market appeal. Skims has also faced public scrutiny and c... download the app to read more
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