Kim Kardashian, the mega influencer and reality star, is reportedly planning to take her shapewear brand Skims to Wall Street. According to sources, Skim is in the process of raising fresh funds from mutual funds and family offices in a pre-IPO round that will value the company at close to $4 billion.
Skims, which was launched in 2019, is one of the fastest-growing innerwear brands in the market. It is expected to generate sales of nearly $1 billion this year, with a growth rate of about 100% percent. The brand has no permanent retail stores and relies on online sales and pop-ups. It also leverages Kardashian's massive social media presence and celebrity collaboration to promote its products.
Skims raised $240 million in a Series B fundraising round in January 2022, valuing the company at $3.2 billion at that time. The brand's valuation has been increasing rapidly from round to round, and could potentially soar even higher in an eventual offering on Wall Street.
An IPO would give Skims a new platform, a new kind of currency, and a new audience of investors. If the brand's sales continue to double, matching Kardashian's global reach, stock traders will love the business all the more.
Skims is founded by Kardashian and Jens Grede, who also cofounded Khloe Kardashian's Good American denim brand and contemporary casualwear label Frame. Grade serves as the CEO of Skims and has expressed his ambition to develop "a few generation-defining brands".
Skims nor Kim Kardashian has commented on the IPO just yet,