Kim Kardashian’s Skims Is Now Worth $4 Billion—Here’s Kim K’s Net Worth
Kim Kardashian’s shapewear brand, Skims, is now worth $4 billion, according to The New York Times.Skims raised $270 million in a funding round led by asset management company Wellington Management. That’s up from 2022, when Skims was valued at $3.2 billion by investors.
The latest Skims funding round added about $500 million to Kardashian’s fortune.Kardashian now has a net worth of $1.7 billion—up from $1.2 billion—thanks to Skims, in which she has a 35% stake. The billionaire TV star and business mogul ranked third on Forbes’ list of the Richest Women Celebrities in America, behind Oprah Winfrey and Rihanna.
A majority of Kardashian’s wealth comes from her stake in Skims,which she co-founded along with business partners Emma and Jens Grede in 2019. While the company started as an online shapewear brand, it has added lounge and swimwear and has plans to open physical stores and sell men’s clothing.Skims’ sales are projected to reach $750 million in 2023, up from $500 million last year. The retail company has a customer base that is composed of 70% Gen Z and millennial customers.
Kardashian founded KKW Beauty, a makeup and fragrance brand, in 2017. In 2020, Kardashian sold 20% of KKW Beauty to international beauty company Coty, Inc., for $200 million.The company was valued at $1 billion at the time. Kardashian eventually shut down KKW Beauty in 2021 and launched a luxury skincare brand, SKKN by Kim, in 2022.Among its products, the high-end brand features a nine-step skincare regimen that retails for $673.
As of July 2023, Kardashian is reportedly in talks to buy back the minority stake from Coty to expand SKKN’s beauty categories, according to The Wall Street Journal.
In 2022, Kardashian launched a private equity
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