Kim Kardashian models Skims bikini (Image: Skims)
After only four years of business, Kim Kardashian’s clothing brand Skims is now worth $4 billion.
“It has grown quickly, and we’re so proud of that,” Kardashian said in the New York Times. “We’ve had a really good flow of product launches.”
Kardashian founded Skims in 2019 with husband and wife Jens and Emma Grede. Jens is the CEO of the company, while Emma serves as the chief product officer.
The second oldest Kardashian sister said that the idea for Skims began when she couldn’t find shapewear matching her skin tone, noting most clothing skin tone colors were either “light nude or just black.”
“So I used to take all my shapewear and dye it with tea bags and coffee in the bathtub or in the sinks,” Kardashian told Time. “I really was just looking for a solution to what I hadn’t found out there.”
The shapewear and clothing brand sells underwear, loungewear and shapewear, and plans to sell men’s clothing in the fall.
It’s no surprise that Skims has grown into a multi-billion-dollar company though. Within the first ten minutes of its launching, the company reportedly sold out and earned itself a $2 million profit, somewhat of a foreshadowing of the company’s trajectory, as Jens pointed out that 11 million people have been on waitlists to buy their most popular items.
This year, Jens reports that sales are estimated to go up to $750 million, making an increase of over $200 million from last year’s sales.
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The increase in sales can be attributed to Kardashian’s large online following, mainly consisting of millennials and Gen Z-ers. Nearly 70% of Skims customers come from those two generations.
Because of its progression and popular demand, investors have taken an interest in the company, with Wellington Management being the most recent to back their funding. Other investment firms include Greenoaks Capital Partners, D1 Capital Partners and Imaginary Ventures.
Although Skims is primarily an online store, with products sold on other websites and Nordstrom, one of the company’s goals is to go public, which means making an initial public offering (IPO) by selling shares of stock to the public.
Last year, Skims was included in Time’s List of 100 Most Influential Companies.
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