The reality TV star's shapewear label SKIMS has doubled its valuation to a whopping $3.2 billion. The achievement comes after $240 million was raised in funds from investors.
The reality TV star's shapewear label SKIMS has doubled its valuation to $3.2 billion. The news comes after $240 million was raised in funds from investors.
Hedge fund Lone Pine Capital, D1 Capital Partners, and existing investors Thrive Capital, Imaginary Ventures and Alliance Consumer Growth were announced in the funding round on Thursday. The 41-year-old first launched the line in 2019. SKIMS sells intimate apparel, loungewear and shapewear sold online and at department store chains such as Nordstrom Inc. and Selfridges & Co.The reality-star-turned-entrepreneur is known for modeling her own shapewear, often taking to her social media accounts to announce new lines.
A week before that, the multi-hyphenate introduced the company's Team USA collection, which she described as a "special collection celebrating the female athletes participating in the 2022 Winter Olympic and Paralympic Games."SKIMS' recent partnership with Fendi was also a hit. The mother of four announced the line on social media in October, calling it a "first of its kind collaboration.
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