TIL That Kim Kardashian Owns a Company Now Valued at 5 Billion

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Kim Kardashian’s apparel giant, Skims, has gotten significantly more valuable.

The company has raised $225 million in new financing, at a $5 billion valuation, Lauren Hirsch is first to report. It’s the latest sign of success for Skims, which has grown significantly beyond its shapewear and underwear roots — and signals what lies ahead.

The news: The round was led by Goldman Sachs Alternatives, with participation from BDT & MSD Partners.

The company, founded by Kardashian and Jens Grede in 2019, is profitable and expected to exceed $1 billion in net sales this year. Skims’s previous fund-raising round, in 2023, collected $270 million at a $4 billion valuation.

Skims will use the new funds to add stores. The brand now has 18 locations in cities including New York, Los Angeles, Austin, Atlanta and Boca Raton, Fla. It wants to further expand that footprint internationally, starting with emerging markets.

“Today’s announcement validates the hard work of our incredible team and partners who have helped us reach this exciting new chapter, becoming a global omnichannel retail brand,” Kardashian, the brand’s chief creative officer, said.

The brand will also continue to expand into new products. That already includes the splashy launch of NikeSkims, a collaboration with Nike that the brands announced in February. The line focuses on women’s apparel, with plans to add footwear and accessories down the road, The Times has reported.

Skims is the official underwear partner of the W.N.B.A., the N.B.A. and USA Basketball.

Skims has been laying the groundwork to build up its beauty business. Earlier this year, the brand bought back the 20 percent stake in Kardashian’s beauty business it had sold to Coty. It recently tapped Diarrha N’Diaye, founder of the beauty company Ami Colé, to lead the new venture.

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