Kim Kardashian‘s reported $1.7B fortune just got a big boost as her shapewear company Skims is now valued at $5 billion after successfully accruing a $225 million capital raise.
‘Today’s announcement validates the hard work of our incredible team and partners who have helped us reach this exciting new chapter, becoming a global omnichannel retail brand,’ the 45-year-old CCO/founding partner told the Daily Mail in a statement Wednesday.
‘We can’t wait to take Skims to the next level as we continue to innovate and set the standard for our industry.’
Kardashian created Skims in 2019 with married couple – Jens Grede and Emma Grede – and they won the first Innovation Award presented by Amazon Fashion at the CFDA Awards in 2022.
Before the launch, The Kardashians producer-star credited her third ex-husband Kanye ‘Ye’ West with being her ‘Ghost Creative Director’ and he also designed the logo for the brand formerly known as ‘Kimono Intimates.’
Skims – which makes up a reported 75 percent of Kardashian’s wealth – is the official underwear partner of the WNBA, the NBA and USA Basketball as well as making headlines for its $48 ‘Seamless Sculpt Face Wrap’ and $32 ‘Faux Hair Micro String Thong.’
Kim Kardashian’s reported $1.7 billion fortune just got a big boost as her shapewear company Skims is now valued at $5 billion after successfully accruing a $225 million capital raise (pictured October 23)
Aside from their successful activewear collaboration with Nike, Skims has 18 retail stores in the States and two franchise doors in Mexico, and they plan on using their new capital to invest in product innovation.
Skims is also developing a beauty brand following the June 29th closing of the Calabasas socialite’s skincare company, SKKN BY KIM.
CEO/co-founder Grede first met Kardashian’s momager Kris Jenner during Paris Fashion Week in 2015, which also led to her co-founding Good American in 2016 with her sister Khloé Kardashian as well as Safely in 2021 with Kris and Chrissy Teigen.
The British 43-year-old is said to have an 8 percent stake in Skims, 23 percent stake in Good American and 22 percent stake in Safely.
Meanwhile, the thrice-divorced mother-of-four’s half-sister Kylie Jenner – whose reported net worth is $670 million – notoriously overinflated the $1.2 billion valuation of her company Kylie Cosmetics back in 2020, which Forbes lowered to $900M due to the discrepancies.
Last Friday, Kardashian discovered she did not score the minimal 1,390 out of 2,000 points in order to pass the State Bar of California exam that she took back in July.
‘Well…I’m not a lawyer yet, I just play a very well-dressed one on TV,’ the aspiring attorney admitted via Instastory Saturday.
‘Six years into this law journey, and I’m still all in until I pass the bar. No shortcuts, no giving up — just more studying and even more determination.’
Kardashian previously failed the ‘baby bar’ exam three times before passing in 2021, and she originally aimed to pass the bar in 2023 without attending college or law school.
The 45-year-old CCO/founding partner told the Daily Mail in a statement Wednesday: ‘Today’s announcement validates the hard work of our incredible team and partners who have helped us reach this exciting new chapter, becoming a global omnichannel retail brand’ (pictured April 4)
She added: ‘We can’t wait to take Skims to the next level as we continue to innovate and set the standard for our industry’ (pictured Monday)
Kardashian created Skims in 2019 with married couple – Jens Grede and Emma Grede – and they won the first Innovation Award presented by Amazon Fashion at the CFDA Awards in 2022 (pictured in 2022)
Before the launch, The Kardashians producer-star credited her third ex-husband Kanye ‘Ye’ West (R, pictured in 2019) with being her ‘Ghost Creative Director’ and he also designed the logo for the brand formerly known as ‘Kimono Intimates’
Skims – which makes up a reported 7 percent of Kardashian’s wealth – is the official underwear partner of the WNBA, the NBA and USA Basketball as well as making headlines for its $48 ‘Seamless Sculpt Face Wrap’ and $32 ‘Faux Hair Micro String Thong’
Aside from their successful activewear collaboration with Nike, Skims has 18 retail stores in the States and two franchise doors in Mexico, and they plan on using their new capital to invest in product innovation (pictured September 24)
Skims is also developing a beauty brand following the June 29th closing of the Calabasas socialite’s skincare company, SKKN BY KIM
Meanwhile, Kardashian’s half-sister Kylie Jenner – whose reported net worth is $670 million – notoriously overinflated the $1.2 billion valuation of her company Kylie Cosmetics back in 2020, which Forbes lowered to $900 million due to the discrepancies (pictured October 18)
The half-Armenian beauty – who believes the 1969 Moon landing was fake – is now scheduled to take the rigorous two-day test in person yet again on February 24-25.
Kardashian always dreamed of following the footsteps of her late father Robert Kardashian, who was part of the late OJ Simpson’s ‘dream team’ of attorneys at his 1995 murder trial.
The criminal reform advocate executive produced and stars as divorce attorney Allura Grant leading an all-female law firm in Ryan Murphy’s 10-episode legal drama, which airs Tuesdays on Hulu/Disney+.
Despite dismal reviews, the show reportedly amassed 3.2 million views globally in the first three days of streaming.
Kardashian also executive produced and stars in the 10-episode seventh season of her famous family’s reality show The Kardashians, which airs Thursdays on Hulu.
Kim’s other upcoming projects include producing and starring in Amazon’s live-action Bratz film for Amazon MGM Studios, producing Hulu pilot Group Chat starring La La Anthony, starring in Eva Longoria’s Netflix comedy The Fifth Wheel, and starring in an Amazon thriller penned by Natalie Krinsky.
