Skims, the shapewear brand co-founded by Kim Kardashian, has reached a valuation of $5 billion. This valuation follows a recent funding round that secured $225 million in new capital.
Funds from investors, including a division of Goldman Sachs, are designated for the expansion of retail operations and global market penetration.
Kim Kardashian, a co-founder of Skims, released a statement regarding the company's objective to enhance its growth and continue product innovation within the industry.
This investment round is among the most substantial for a U.S. consumer brand this year. Skims operates within a competitive market that includes other brands, such as Lululemon.