Kim Kardashian ‘s Net Worth ! Skims has skyrocketed in value, reaching a staggering $4 billion, as reported by The New York Times.
This remarkable growth is attributed to a recent funding round led by Wellington Management, infusing an impressive $270 million.
This surge in value marks a significant leap from its previous valuation of $3.2 billion in 2022.
From Reality TV to Business Mogul: Kim Kardashian ‘s Skims Reaches Astounding $4 Billion Valuation – Net Worth
Kim Kardashian’s net worth has soared to $1.7 billion, a substantial increase from $1.2 billion, thanks to her substantial 35% stake in Skims.
Remarkably, this success has propelled her to the third spot on Forbes’ list of the Richest Women Celebrities in America, trailing only behind icons Oprah Winfrey and Rihanna.
A significant contributor to Kim’s wealth stems from her co-founding role in Skims alongside business partners Emma and Jens Grede in 2019. Originally focused on online shapewear, Skims has diversified its offerings to include lounge and swimwear, with ambitious plans to open physical stores and expand into men’s clothing.
Sales projections for Skims in 2023 are a staggering $750 million, a remarkable leap from the previous year’s $500 million, with a clientele primarily comprised of 70% Gen Z and millennial consumers.
Beyond Beauty: Exploring Kim Kardashian ‘s Diverse Ventures, from Skims to SKKN -Net worth
Kardashian’s journey into the beauty industry began with the establishment of KKW Beauty in 2017. She later sold a 20% stake to Coty, Inc. For a substantial $200 million, valuing the company at an impressive $1 billion.
However, she closed down KKW Beauty in 2021 to pave the way for her luxury skincare brand, SKKN by Kim, launched in 2022.
This high-end brand boasts a luxurious nine-step skincare regimen retailing at $673, garnering significant attention and interest.
As of July 2023, Kardashian is actively engaging in discussions to reacquire the minority stake from Coty. Aiming to expand SKKN’s offerings and beauty categories.
This strategic move aligns with her vision for continued growth and innovation within the beauty sector.
Kim Kardashian initiated the launch of SKKY Partners – Net Worth
In a bold move, Kardashian initiated the launch of SKKY Partners, a private equity firm, in collaboration with Jay Sammons, a former partner at Carlyle.
Specializing in investments within various consumer and media sectors, including hospitality, digital, e-commerce and luxury. SKKY aims to secure a significant investment of at least $1 billion from prospective investors.
Kardashian’s rise to prominence stems from the renowned reality TV show “Keeping Up With the Kardashians,” which aired for 20 seasons on E! Network.
The Kardashian-Jenner family secured a lucrative $150 million deal with E! Network for the final five seasons, with each season yielding around $30 million.
Additionally, Kardashian’s involvement in the reality TV space continues with “The Kardashians,”.
A show on Hulu that has reportedly earned the family a nine-figure salary, translating to at least $100 million for the three seasons currently streaming.
Social Media Maven: Unveiling Kim Kardashian’s Influential Reach and Lucrative Brand Collaborations
Kim Kardashian’s influence extends beyond television. With her impactful presence on social media.
Boasting a remarkable 363 million followers on Instagram. She commands between $300,000 and $1 million for sponsored posts.
Her brand collaborations encompass a diverse range of partnerships, including the creation of Beats x Kim headphones. And a personalized ‘Kimade’ flavor in collaboration with Alani Nu energy drinks.