Skims, founded by REAL TV Star and Entrepreneur Kim Kardashian together with Ceo Grede, said on Wednesday, valued the new capital at $ 5BN.
Kardashian’s efforts, including her cosmetics brand skkn, have attracted younger shoppers and benefited from her vast social media following. Similarly, other celebrity-backed brands also have capital investment, as PIRST companies in marketing power and established audiences of high-profile contributors.
Elf Beauty agreed to buy the makeup of Hailey Bieber and Rhode, for almost $ 1bn earlier this year, while Rihanna Kardashian American also has a capital fund of Khloé Kardashian.
Skims said it plans to use the new capital to expand its close lines and line guards, expand work outfits and promote reactive growth.
“We can’t wait to take skims to the next level as we continue to innovate and set the standard for our industry,” Kardashian, who serves as Chief Creative Officer, said in a press release Wednesday.
“This significant demonstrated continued confidence in our long-term vision and coupled with disciplined execution, skimmed positions to unlock the next phase of growth,” Grede said in a statement.
Skims, which was founded in 2019, said it was tracking $1bn in Net Sales by 2025. Earlier this year, Coty sold a 20% stake in two businesses under one brand.
The company, known for its focus on inclusive acquisitions, currently operates 18 retail stores in the US and two franchise locations in Mexico. Skim says that’s laying the groundwork to be a more physical business over the next few years.
The company also partnered with sportswear giant Nike to launch activewear for women.
After the latest fundraising, the skims are bigger than its competitors, Victoria’s Secret and Under Armour, combined. Victoria’s Secret has a market capitalization of $2.86bn, and under armor is worth $1.98bn.
The latest fundraising of the clothing company led by the giants Goldman Sachs Alternative in connection with BDT & MSD Partners’s Partner Fund.
Jens said the skims “should be” a public company. But in one Talk to WWD Last year he suggested that plans for a sale were not imminent. “We can make a position in the future, but that’s not what I’m thinking,” he said.
After the latest fundraising, Kardashian, 45, is now worth $1.9bn, According to Forbeswith the deal adding $200m to his fortune.