Kim Kardashian‘s net worth has seen a significant increase, reaching $1.7 billion. This comes after her shapewear brand, Skims, secured $225 million in a funding round led by Goldman Sachs Alternatives.

What Happened: The funding round has elevated Skims’ valuation to an impressive $5 billion. Kardashian, who launched the brand in 2019 with CEO Jens Grede, holds the majority stake of 35 percent.

Skims’ rapid growth, becoming one of the fastest-growing apparel brands in the US in just six years. The brand, which was valued at $4 billion in July 2023, has seen its revenue multiply fivefold since 2020, with sales reaching $750 million in 2023.

Skims has broadened its product range beyond shapewear, introducing loungewear, swimwear, and menswear. The brand has also established notable partnerships, including becoming the official underwear partner for the NBA, WNBA, and USA Basketball.

Also Read: Kim Kardashian’s Skims Brand Began In A Bathtub: ‘I Dyed Shapewear With Tea, Coffee’

After starting as an online brand, Skims has ventured into brick-and-mortar retail with stores in Georgetown, Miami, Austin, and New York.

The brand has plans to open 16 new US stores this year and expand its international presence, with standalone stores slated for London and Dubai by mid-2026.

Why It Matters: The substantial funding and the consequent surge in Kardashian’s net worth underscore Skims’ success and potential for further growth. The brand’s expansion into different product categories and its high-profile partnerships have contributed to its impressive performance.

The planned physical store openings in the US and abroad indicate Skims’ ambition to reach a wider customer base and strengthen its market position.

The brand’s success story serves as a testament to the potential of celebrity-led businesses in the competitive apparel industry.

Read Next

This 29-Year-Old Earns $135,000 A Year – Here’s How He Plans To Retire At 35

Image: Shutterstock/T. Schneider