Speaking of being a financially powerful woman, a surge in the value of Kim Kardashian’s shapewear brand Skims has contributed significantly to her geometrically increasing net worth.
Skims, which Kardashian co-founded in 2019, is now valued at USD 4 billion, according to a 19 July NYT article. Because of the increase in her company’s value, Kardashian, who became a billionaire in 2021, has seen an almost 41% increase in her personal net worth.
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The CEO of Skims, Jens Grede, reportedly stated in the NYT article that the company will achieve 750 million USD in revenues in 2023 and is currently profitable. The new sales total is 50% more than the USD 500 million in sales that were registered in 2022.
Forbes claims that the media personality’s net worth has increased by about USD $500 million based on the most recent valuation. It has increased from USD 1.2 billion before the investment to USD 1.7 billion as a result.
Kardashian’s Skims, which was co-founded by Jens Grede and Emma Grede, raised USD 270 million in a fresh round of funding that was spearheaded by asset manager Wellington Management. The value of Skims has increased tremendously.
In April 2021, the corporation was valued at USD 1.6 billion, but by early 2022, that figure had risen to USD 3.2 billion. According to Kim Kardashian, “It has grown quickly, and we’re so proud of that.” We’ve had a lot of successful product launches.
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2019’s Skims recorded USD 2 million in sales just minutes after launching its official website. The brand first specialized in shapewear, but it soon expanded to include loungewear and swimsuits.
In June 2019, Kardashian said that her shapewear line would debut under the moniker Kimono. However, after complaints about the name’s cultural appropriation, it was a reference to a traditional Japanese type of clothing, she was forced to rename it to Skims within weeks.
