- Kim Kardashian is a savvy business woman
- Her company, Skims is now highly valued
- It's worth billions!
Kim Kardashian's Skims is valued at multiple billions of dollars
The shape wear brand was launched by Kardashian and Jens Grede just four years ago. "It has grown quickly, and we're so proud of that. We've had a really good flow of product launches," Kim Kardashian said in a statement.
In addition to shape wear, the company now sells swimsuits and loungewear. Men's clothing is expected from the brand in autumn. Due to Skims' steady growth, the company intends to open physical stores next year in Los Angeles and New York City, 'USA Today' reports.
Skims is on track to earn $750 million in sales in 2023, up from $500 million last year, says 'The New York Times'.
"Skims has maintained unprecedented momentum since the brand's inception. We're thrilled to partner with the brand to support it through this pivotal growth stage," Michael Carmen, co-head of private investments at Wellington Management said.
Also Interesting:
Collaboration or Competition?
"Third Parent" For Dream: Blac Chyna Reacts To Khloe Kardashian's Statement
Rumours Are Flying
"Skims' success has raised questions about whether the company will go public. At some point in the future, Skims deserves to be a public company," Jens Grede, chief executive of Skims, said via statement.
