Kim Kardashian Hits Billionaire Status Again After Skims Raises $225 Million
Kim Kardashian just keeps proving her business acumen is on another level. Her fashion and lifestyle brand, Skims, recently announced a major funding round that has catapulted the company’s valuation to $5 billion. This news not only highlights the brand’s rapid growth but also adds a massive $200 million to Kim’s personal fortune.
According to Forbes, Kim Kardashian is now worth an estimated $1.9 billion. That’s up from $1.7 billion before this latest round, which was led by Goldman Sachs Alternatives and included participation from billionaire Byron Trott’s BDT & MSD Partners. For a company that started just a few years ago, these numbers are nothing short of impressive.
Keep reading to discover how Kim Kardashian turned Skims into a billion-dollar empire and what’s next for her fashion and beauty powerhouse.
Skims’ Rise From Online Startup to Retail Powerhouse
Launched in 2019 by Kim, Jens Grede, and Emma Grede, Skims started as a direct-to-consumer online brand. From its beginnings in shapewear, the company has expanded its offerings to include t-shirts, pajamas, jackets, and even men’s hoodies. The brand has also grown into the physical retail space, boasting 20 stores across the U.S. and Mexico.
Jens Grede, the company’s cofounder and CEO, expressed excitement about the future of Skims, saying, “This milestone reflects continued confidence in our long-term vision and, coupled with disciplined execution, positions Skims to unlock its next phase of growth.”
With the latest funding, Skims plans to accelerate its retail expansion and introduce new products, cementing its place as a lifestyle brand, not just a shapewear company.
Kim Kardashian’s Role and Earnings
Even with her famous family and television career from Keeping Up With The Kardashians and its Hulu follow-up, Kim’s fortune is largely built on Skims. She is estimated to own just under one-third of the company following this funding round, while the Gredes, her cofounders, are now $150 million richer.
On her hands-on approach, Kim shared on The Graham Norton Show, “I do everything from all the design to pick out all the campaigns. That’s my daily job.” Clearly, Kim is not just a figurehead; she is deeply involved in the creative and business direction of Skims.
Expanding Beyond Fashion
Skims is not stopping at apparel. The company is branching into the beauty sector as well. In March, Skims purchased Coty’s 20% stake in SKKN by Kim, Kim’s skincare line, for an undisclosed amount.
This move came after Coty originally bought the stake in 2021 for $200 million. The SKKN brand itself is a 2022 reinvention of her earlier beauty line, KKW Beauty, which was eventually shuttered.
To lead these new efforts in beauty and fragrance, Skims recently hired Diarrha N’Diaye, founder of Ami Colé. This expansion shows that the company is aiming to become a major player not just in fashion but in lifestyle and wellness products as well.
Collaborations and Partnerships
Skims is also making waves through collaborations. Earlier this year, the company teamed up with Nike to launch NikeSkims, an activewear collection for women.
This partnership is now expanding to include new items like socks, waist packs, and training gloves. Collaborations like this are helping Skims reach a broader audience while maintaining its strong brand identity.
Kim is excited about the brand’s potential and shared, “We can’t wait to take Skims to the next level as we continue to innovate and set the standard for our industry.” Her commitment to both design and business strategy continues to fuel the brand’s success.
Skims’ Impressive Financial Growth
Skims’ financial trajectory has been nothing short of remarkable. The brand was last valued at $4 billion in 2023 and expects to generate $1 billion in net sales this year. That’s a huge leap from $750 million in net sales during its previous funding round.
The company’s consistent growth and clear expansion strategy have made it one of the most talked-about brands in fashion today.
The latest $225 million funding round not only boosts the brand’s valuation but also solidifies its place in the competitive fashion and lifestyle market. Investors clearly have confidence in Skims’ long-term vision and potential to disrupt both apparel and beauty sectors.
What This Means for Kim Kardashian
For Kim, this milestone is another testament to her ability to turn a personal brand into a serious business empire. Her net worth now reflects her work as an entrepreneur, designer, and innovator, far beyond her television fame.
She is also balancing this business empire with personal goals, including her efforts to pass the bar exam—a reminder that she is serious about her professional growth in multiple arenas.
Skims’ success highlights how celebrity-driven brands can evolve into major business powerhouses when coupled with strategic partnerships, strong leadership, and a hands-on founder. Kim Kardashian has proven that with vision and determination, a brand can grow from a niche online store to a billion-dollar global enterprise in just a few years.
With this latest funding, more store openings, new product launches, and expansion into beauty, the future looks incredibly bright for Kim and Skims. One thing is clear: Kim Kardashian is not just a celebrity; she is a business mogul whose empire shows no signs of slowing down.
Summary:
- Kim Kardashian’s Skims raises $225 million in a new funding round, boosting its valuation to $5 billion.
- The funding adds $200 million to Kim Kardashian’s net worth, now estimated at $1.9 billion.
- Skims has expanded from shapewear to t-shirts, pajamas, jackets, and men’s hoodies and is growing its brick-and-mortar presence.
- The company plans to use the new investment to open more stores and launch new products, aiming to become a predominantly physical retail brand.
- Kim owns just under one-third of Skims and is deeply involved in design and campaign decisions.
- Skims is also venturing into beauty, acquiring Coty’s 20% stake in SKKN by Kim and hiring Diarrha N’Diaye to lead beauty and fragrance.
- NikeSkims collaboration expands with new activewear products like socks, waist packs, and training gloves.
- The company expects $1 billion in net sales this year, up from $750 million during its previous funding round.
- Investors, including Goldman Sachs Alternatives and BDT & MSD Partners, show strong confidence in Skims’ growth and vision.
- Kim continues balancing her business empire with personal goals, including studying for the bar exam.
