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THE WHAT? Skims, co-owned by Kim Kardashian and Jens Grede, has secured $270 million in its newest fundraising, lifting the corporate’s valuation to $4 billion. This notable rise comes only a 12 months after its valuation stood at $3.2 billion.
THE DETAILS? Skims started as a shapewear model however has since diversified into varied clothes classes, resembling loungewear and swimwear, with males’s clothes on the horizon. Moreover, it’s transitioning from a direct-to-consumer mannequin to bodily retail, desiring to open flagship shops in Los Angeles and New York Metropolis within the coming 12 months.
THE WHY? Skims’ important buyer base and spectacular progress attracted new traders, led by Wellington Administration, with sights set on an IPO. The co-owners present challenges revolve round managing stock because the model expands and coping with financial inflation, impacting discretionary shopper spending.
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