Kim Kardashian’s Skims price $4 billion after new funding spherical

The clothes maker has raised a complete of $670 million from traders together with D1 Capital Companions and Imaginary Ventures.

Administration mentioned it plans to make use of the funds to develop new merchandise, enter new classes and open company-owned outlets. Skims is ready to interrupt $750 million in web gross sales this 12 months, in response to Chief Govt Officer Jens Grede.

Grede mentioned in an interview in June that Skims plans to aggressively develop its retail community, with its first everlasting retailer set to debut in Los Angeles subsequent 12 months.

“Kim and I can envision a future the place years from at the moment there is a Skims retailer anyplace on this planet you’d discover an Apple retailer or a Nike retailer,” Grede mentioned.

The New York Occasions reported earlier on the funding spherical.