Kim Kardashian’s Skims Hits $5B Valuation After Latest Funding Round

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00:00Kim Kardashian's Skims hits $5 billion valuation after latest funding round.

00:06Skims hits a $5 billion valuation after a $225 million raise,

00:12marking Kim Kardashian's milestone and fueling the brand's global expansion.

00:16The New York Post says the latest fundraising round,

00:19led by Goldman Sachs Alternatives and BDT and MSD Partners,

00:23adds $1 billion since 2023, when valuation was $4 billion.

00:30Founded in 2019 by Kardashian and Jens Grady,

00:34Skims has grown from lingerie to a full-fledged apparel brand.

00:38Today's announcement validates the hard work of our incredible team and partners

00:42who have helped us reach this exciting new chapter,

00:44becoming a global omni-channel retail brand, Kardashian said in a statement.

00:49The company will expand its presence with more international stores.

00:52It runs 18 U.S. storefronts in New York, Los Angeles, Austin, Atlanta,

00:58and Boca Raton, Florida.

01:00Skims is the official underwear partner for the NBA, WNBA, and USA basketball.

01:07A Nike collaboration, Nike Skims, will feature sport-ready shapewear,

01:11including fitted jackets, leggings, and sports bras.

01:14Skims bought back the 20% stake previously sold to Cody and hired Diara NDA,

01:20founder of Ami Kole and former Glossier executive, to lead Beauty and Fragrance.

01:25The $48 seamless sculpt face wrap, which promises targeted compression for shaping and sculpting,

01:31hints at expansion into beauty and skincare tools.

01:35Wellington Management, D1 Capital Partners, Thrive Capital, and Imaginary Ventures backed the brand,

01:41prompting speculation it could go public.

01:43Soon co-founder Greedy has downplayed those rumors.

01:46We might make that position in the future, but that's not what I'm thinking about,

01:50he told WWD last year.