On Wednesday, Kim Kardashian announced that her underwear brand, SKIMS, is now valued at $1.6 billion after receiving a recent investment. This news comes just days after Forbes named the reality star turned businesswoman as a billionaire, with SKIMS being valued at $500 million and her stake in the company worth around $225 million. In an interview with The New York Times, Kim revealed that the recent injection of $154 million has increased the brand’s worth even further. Apart from SKIMS, Kim also earns money from KKW Beauty and Fragrance, and her reality show, bringing in approximately $10 million per year. Kim attributes SKIMS’ growth in the last year to its pivot from shapewear and undergarments to pajamas and loungewear in response to the stay-at-home orders around the world. However, she plans to refocus on shapewear and underwear as the foundational products of the brand.
In 2019, SKIMS made its debut by introducing shapewear and undergarments to its collection. Over time, SKIMS expanded its product line and now offers loungewear for ultimate comfort.
Kim Kardashian is a highly successful entrepreneur and influencer who actively promotes her company on social media channels, having millions of followers. Reportedly, her net worth has increased from $780 million to $1 billion since October 2020. Her wealth comes from various investments, including Skims, KKW Beauty, Coty Sale, TV endorsements and video games, and stocks from Kanye. She also has an impressive real estate portfolio and an extensive business portfolio, including KKW Fragrance, personalized emojis called Kimojis, and a virtual reality game based on her life. Kim earned at least $10 million every year since 2012 through reality TV, ad campaigns, and endorsements. She launched Skims in 2019 with $5 million in funding from VC firm Imaginary Ventures. Kim is the third person in her family to earn billionaire status after her sister Kylie Jenner and Kanye West. It is not clear how their respective fortunes will be divided in their divorce, but it is likely that they signed a prenuptial agreement when they got married.