Expansion into Physical Stores and Men’s Offering on the Horizon

  • Kim Kardashian’s Skims brand valued at $4bn after raising $270m in latest funding round
  • Expansion plans include physical stores and a men’s offering
  • Skims reported to reach $750m in sales, up from $500m in 2022
  • First European pop-up experience at Selfridges London

Kim Kardashian’s shapewear brand Skims has reportedly raised $270 million in its latest funding round, valuing the business at $4 billion (£3 billion). The company, owned by Kardashian and her business partner Jens Grede, was last valued at $3.2 billion (£2.7 billion). According to plans, Skims aims to expand into physical stores and launch a men’s offering. In an interview earlier this year, Grede revealed that the brand is on track for $750 million (£580 million) in sales, up from $500 million (£386 million) in 2022. Last month, Skims opened its first-ever European pop-up experience at Selfridges London, which featured an assortment of Skims Swim essentials and limited-edition swim collections.

Factuality Level: 8
Factuality Justification: The article provides accurate and relevant information about Kim Kardashian’s Skims brand, its recent funding round, valuation, expansion plans, and sales figures. It also mentions the pop-up experience at Selfridges London. The information is based on a reputable source (the New York Times) and does not include any sensationalism or personal opinions.
Noise Level: 7
Noise Justification: The article focuses on a celebrity’s business venture and provides some financial information but lacks in-depth analysis or exploration of broader trends or implications. It also includes details about specific products and pop-up events which may not be relevant to most readers.
Financial Relevance: Yes
Financial Markets Impacted: The funding round and valuation of Skims brand
Financial Rating Justification: This article discusses the latest funding round of $270m for Kim Kardashian’s Skims brand, which impacts the company’s value and potentially affects its future expansion plans. It also mentions the sales growth from $500m to $750m, showing financial relevance.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: No extreme event mentioned in the text

Reported publicly: www.retailsector.co.uk