Back in April 2021, we found out that Kim Kardashian had officially achieved billionaire status for the first time. The news came via Forbes, who announced her inclusion in their World’s Billionaires list, where she joined her younger sister, Kylie Jenner.
At the time, the publication cited Kim’s two massively lucrative businesses, KKW Beauty and Skims, for the reasons behind her increased wealth, as well as income from Keeping Up With The Kardashians, real estate and various endorsement deals.
And now, just nine months on from the initial announcement, it’s been revealed that Skims has doubled its valuation and is worth $3.2 billion (and we were excited when our savings account hit triple figures…).
It’s all down to the reality star’s underwear label raising another $240 million in investment after sales surged 90% last year (because, let’s face it, her thongs and nightwear feel as comfy as our own skin and were a total lockdown must-have).
“This latest round [of funding] will allow us to focus on bringing more innovations and solutions to our customers and become even more of a trusted resource for them,” Kim said in an email.
Kim launched her line of shapewear, Skims, back in 2019, which has seen many successful collections and new lines. In 2020, Skims pivoted to cosy loungewear and matching sets in light of the coronavirus pandemic and lockdown, though the ‘sculpting bra‘ and ‘Fits Everybody range‘ have been the brand’s latest viral successes. And last year, the brand brought out lust-worthy loungewear like pyjamas and sweatpants.
The brand now sells a wide range of basics that include pullovers, sleep robes and turtlenecks. Shapewear now represents less than 20% of sales and underwear accounts for the majority of its business. And it’s clear that the KUWTK star is passionate about her brand, continually promoting it to her huge Instagram following and wearing lots of the pieces herself.
And her promo clearly pays off, as the brand boosted sales 90% to about $275 million last year and expects to hit $400 million in 2022.
We have to say, after the past twelve months, where the star announced her divorce from Kanye West (who is now dating actor and model Julia Fox), it’s hard to not be impressed by her continued drive and work ethic.
With new boyfriend Pete Davidson, who the star is apparently totally smitten with, a multi-billion dollar company, four adorable children and her sister Kourtney‘s wedding on the horizon, 2022 is shaping up to be a pretty good year in the Kim Kardashian camp.
Kim, who, landed the cover of Forbes for the first time in 2016, famously said during the accompanying interview: “Not bad for a girl with no talent.”
Get it, Kim!