Kim Kardashian‘s net worth surged recently, all thanks to her luxury clothing brand, SKIMS. On Wednesday, the shapewear company revealed its valuation reached $5 billion after it raised $225 million in funding. Hence, the latest victory of SKIMS has resulted in the co-founder’s fortune soaring dramatically. For those unversed, the clothing brand was co-founded in 2019 by Kardashian and the entrepreneur couple, Emma Grede and Jens Grede.
Kim Kardashian’s net worth reportedly soared after SKIMS funding round
Kim Kardashian has joined the richest celebrities’ table. Her apparel brand, SKIMS, has achieved a new milestone, which has pushed her net worth higher than ever. According to Forbes, her estimated fortune went from $1.7 billion to $1.9 billion. Reportedly, the latest success of the company has a lot to do with it.
On November 12, the SKIMS team announced that it had achieved a rise in capital due to new funding worth $225 million. Hence, the brand is now valued at $5 billion from $4 billion, as per the Forbes report. Furthermore, it has naturally boosted Kardashian’s net worth.
“This milestone reflects continued confidence in our long-term vision and coupled with disciplined execution, positions SKIMS to unlock its next phase of growth,” CEO Jens Grede said in a press release. For those unversed, the clothing line provides an online shopping facility; however, it reportedly aims to become a “predominantly physical business” in the coming years.
Within a few months, the brand has caught a lot of attention due to its new, unique products. Its Seamless Sculpt Face Wrap created a buzz when it launched. Later, Faux Hair Micro String Thong made headlines for being the first merkin G-string in the market. It was sold out within 24 hours. Later, the reality TV star even revealed that it was just a “fun, silly idea” and that Kardashian’s “All’s Fair” co-star, Sarah Paulson, reportedly purchased it.
“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 is the Chief Creative Officer, mentioned in the press statement.
Originally reported by Suushmmita Sen on Reality Tea.
