Skims Body Inc. Matures into a $4 Billion Company
Skims Body Inc., the popular women’s wear startup founded by Kim Kardashian, recently raised an incredible $270 million in a Series C funding round. This latest funding has pushed the company’s valuation up to an astounding $4 billion, demonstrating its exponential growth since its establishment just four years ago.
Investor Information
The funding round was led by Wellington Management, a renowned organization known for making strategic investments in promising companies. Other significant contributors to the funding include:
- Greenoaks Capital Partners: A global investment firm that provides long-term capital to technology-oriented businesses.
- D1 Capital Partners: An investment firm that partners with exceptional entrepreneurs and management teams to build successful businesses across various industries.
- Imaginary Ventures: A venture capital firm that focuses on early-stage investments in retail innovation.
Company’s Growth Projections
In a recent interview with The New York Times DealBook, Skims’ CEO Jens Grede shared an optimistic outlook for the company. He projected that Skims will achieve sales of $750 million in 2023, a significant increase from $500 million in 2022. If the company manages to reach this projection, it will serve as a testament to its rapid growth and success in the women’s wear market.
| Year | Sales Projection |
|---|---|
| 2022 | $500 million |
| 2023 | $750 million |
With a valuation of $3.2 billion in 2022, Skims had already established itself as a rapidly growing player in the fashion industry. The recent leap to a $4 billion valuation further solidifies its success and impact within the international fashion market.
Achievements and Future Plans
In an interview with DealBook, Kim Kardashian, the prominent figure behind Skims, expressed her satisfaction with the brand’s growth, stating, “We’ve had a really good flow of product launches.” This highlights the success of the numerous product releases that have captivated the public’s attention and contributed to the company’s expansion.
- Product launches: Skims’ frequent and successful product launches have not only strengthened its existing customer base but also expanded its market reach. The strategic decision to introduce new product lines has enhanced the brand’s image and created new potential revenue streams.
- Series C funding: Four years after its launch, the Series C funding round not only provided Skims with financial backing but also attracted a group of supportive investors who share the company’s vision for growth.
With the recent funding injection, Skims Body Inc. is well-positioned to continue leading the women’s wear segment, collaborate with other brands, and expand its product range. This is a pivotal moment for the company as it embarks on new ventures and tackles future challenges.