In April of 2021, Kim Kardashian’s SKIMS was valued at $1.6 billion. Now, the fashion and beauty icon’s brand has doubled its valuation to $3.2 billion.
SKIMS initially launched back in 2019 with shapewear at its center. Over the last few years, Kardashian’s company has expanded into loungewear, basics, and even outfitting Team USA for the 2020 Sumer Olympics in Tokyo as well as the forthcoming 2022 Winter Olympics in Beijing.
“I’m thrilled that SKIMS and Team USA are continuing to partner for these Winter Games. Our collection of lounge and sleepwear was designed with these inspiring women in mind, and I’m so proud that Olympic and Paralympic athletes will be wearing SKIMS again during their downtime!” Kardashian said in a press release.
Throughout 2021, SKIMS reportedly increased sales by 90% to about $275 million, expecting to hit $400 million in 2022.
Kardashian recently made a statement regarding SKIM’s growing success, saying that she and her company want to use this opportunity “to focus on bringing more innovations and solutions to our customers and become even more of a trusted resource for them.”
—
Photo credit: Tinseltown / Shutterstock.com