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Kim Kardashian’s Skims Is Worth $4 Billion: ‘Laughing at Naysayers … and Kourtney’
Cha-ching! Kim Kardashian‘s shapewear company Skims has been valued at a staggering new worth and a Kardashian insider exclusively tells Life & Style that Kim is cackling at her critics, including sister Kourtney Kardashian.
“The news that Skims is worth $4 billion has Kim feeling like she’s back on top of the world,” the source reveals, making the entrepreneur feel extra confident about how much work she’s put into her brand.
“Kim is laughing at all the naysayers, even family members like Kourtney, who criticized her ambition as being just greedy,” the insider continues.
“Call her money-hungry if you like, but she’s laughing all the way to the bank. She’s not sitting back either, she’s striving to make the company bigger and better,” the source reveals, adding, “This proves Kim has staying power, she’s a total boss.”
The New York Times reported on Wednesday, July 18, that Kim raised $270 million in a new round of funding and that Skims’ latest valuation is $800 million more than it was this time last year, when it was at $3.2 billion. The publication estimated Skims will rake in $750 million in sales for 2023, after making a whopping $500 million last year.
Kourtney lamented Kim’s “greediness” in a June 28 episode of The Kardashians amid the sisters’ feud, which began with the Poosh founder believing Kim used her Italian wedding as an opportunity to build a partnership with the design house Dolce & Gabbana.
“I feel like I go to big extents to have my own thing. But there’s no sense of loyalty, or feeling of, ‘Oh, how would I feel?’” Kourtney told sister Khloé Kardashian.
“It’s almost like a greediness to what we can do, and how many things, and everything moves so fast,” she continued, adding, “I feel like we have it all. We have everything that we — more than we could want or need.”
Kim launched her successful shapewear company with Jens Grede in 2019 amid her desire to have access to better undergarment options.
“It started off with simply finding shapewear that was a skin tone that would match my color. I used to take my shapewear and dye it with tea bags and coffee in the bathtub,” she told Time magazine in a June 30, 2023, interview. Kim also turned to cutting one of the legs off her Spanx when she wore outfits with high slits. Her company has created one-legged solutionwear as well as low-back styles so fans can still wear shapewear when donning backless dresses.
The Hulu star branched out into creating lines of loungewear, lingerie, swimwear, sweats and other clothing items, which helped grow her business immensely. Through it all, Kim is the first to show fans her latest products, sharing Instagram Stories featuring her new items that include different colors, fabrics and more. She also models her products on social media before they become available for sale.
“I always like to see it on myself. I can absolutely tell when I miss a few drops,” Kim, who is also Skims creative director, told the publication. The brand is also the most personal of all of the projects she’s taken on. “It’s just a part of me,” Kim said. “I take it really personally. It started off of my body and my shapes, and it’s very vulnerable.”
