(Filed Under wholesale Shapewear News). Forbes and Kim Kardashian West herself have offered two very different estimates as to the current valuation of her privately held Skims shapewear and loungewear brand.
This year, as it named Kardashian to its World’s Billionaires List for the first time, Forbes said a source familiar with Skims told them “about a transaction that values the shapewear company north of $500 million.”
Meanwhile, an article in the Times last week reported “The company has raised $154 million in new funding, which Ms. Kardashian West said had lifted its valuation to $1.6 billion.” The Times added that the brand, which launched in 2019, “has sold more than four million units,” to date and “reported $145 million in sales last year, and expects to roughly double sales to $300 million this year.”
Despite the apparent momentum of the brand, its core shapewear category suffered during the pandemic, and as a result Kardashian West added a loungewear segment. Interestingly, even though the Times article said she hopes to build the business for the long term, it also quoted her as saying she is not opposed to selling the company. “I think I’m open to the conversation, for sure,” so long as she is able to retain some role going forward. — NM
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