Kim Kardashian’s Skims Is Now Worth $3.2 Billion

Skims are loved by many, despite their controversial origins. After raising $240million from investors, Kim Kardashian’s formwear brand is now worth $3.2Billion. 

“This latest round [of funding] 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, according to Bloomberg. 

When it launched in 2019 (after some drama that included its original name, Kimono, which people perceived as culturally insensitive), Skims was billed primarily as a shapewear and underwear brand—the line’s Sculpting Bra was an immediate viral success selling out instantly—but wisely expanded to include cozy loungewear including hoodies, matching sets, sweats, and slippers at the start of the pandemic. 

According to reports shapewear now accounts for less than 20% of sales while underwear accounts in the majority of the company’s business. Kardashian is clearly passionate about her brand and promotes it on social media. She also wears the pieces. The brand saw a 90% increase in sales to $275 million last year, and is on track to reach $400 million by 2022.

Bloomberg reports that the brand has been busy preparing partnerships and activations to build hype and get shoppers excited, as it targets a global stage. Skims’s limited edition collaboration with Fendi, which dropped in October, brought in more than $3 million in sales within 10 minutes of release. According to Jens Grede, Skims chief executive officers and Kardashian’s business partner, the majority of the demand from the logo-heavy items, including the $395 bathing suits or the $4,200 leather dresses, came from outside the U.S.

Skims will also be present at the Winter Olympics in Beijing next year. As it did last year at the Summer Games, Tokyo, Skims will again outfit Team USA in loungewear as well as underwear. “We are continuously working on collaborations, partnerships, and events,” Grede said. “More to come.”

It was announced by in April 2021 ForbesKardashian was officially a billionaire, joining Kylie Jenner, her younger sister and makeup entrepreneur Kylie Jenner. Kardashian’s lucrative businesses included Skims, KKW Beauty and earnings from real estate, endorsement deals and income from her long-running E! Reality show Keeping up with Kardashians. 

According to Kardashian, in an interview with Forbes in 2016, when she appeared on the publication’s cover for the first time, “Not bad for a girl with no talent.”