She may have trouble keeping a man , but she IS making a TON of money……
Kim Kardashian’s apparel brand, Skims, is 4 years old and worth $4 billion.
Why it matters: It’s a tour de force by Kardashian, who’s already a billionaire and spawned a number of successful ventures.
- Skims raised $270 million at its new valuation in a funding round led by Wellington Management.
Between the lines: The company’s viral following and growth is what drew in investors, Jens Grede, Kardashian’s business partner and Skims’ chief executive told the New York Times.
- Skims started as a shapewear brand, but it’s expanded into swimwear and loungewear and plans to launch men’s clothing in the fall.
- The online retailer is also looking to expand its brick and mortar presence.
By the numbers: In the last year, 11 million people around the world have joined waitlists for popular Skims products.
- Some 70% of customers are Gen Zers or millennials.
- Sales are projected to grow to $750 million this year from $500 million last year…..