Kim Kardashian: Huge success with her brand “Skims”

Kim Kardashian’s (42) “Skims” is worth four billion US dollars (around 3.6 billion euros) four years after it was founded. This was announced by the clothing company on Wednesday (July 19). The company is now planning to open its first stores and also include men’s clothing in its range.

“We are so proud of it”

, since in view of the success even an IPO is conceivable. The company was able to increase its value considerably: Last year, investors valued it at 3.2 billion US dollars. “It’s grown fast and we’re so proud of it,” Kim Kardashian said of the new numbers. “We’ve had a really good flow of product launches.”

The company initially sold shapewear. Shaping underwear no longer accounts for the bulk of sales, though: Skims has expanded into a number of apparel categories, including loungewear and swimwear. From autumn there will also be men’s clothing. Another goal is to soon enter the stationary retail trade in addition to pure online trading. The first flagship stores are scheduled to open in Los Angeles and New York City next year.

Sales of 750 million US dollars planned

CEO Jens Grede emphasized that the company is now profitable and on track to hit $750 million in sales this year. Last year it was $500 million. About 15 percent of online customers are from outside the US, and almost 70 percent of total customers are under 45 years old.

Skims is an important part of Kim Kardashian’s business empire, which also includes skin care products and fragrances. The 42-year-old remains the company’s largest single shareholder. Together, she and Jens Grede own the majority stake.