Skims, the apparel brand co-founded by Kim Kardashian, has reached a significant milestone after its latest funding round, now valued at $4 billion. The brand successfully raised $270 million in a Series C funding round led by Wellington Management, with participation from Green Oaks Capital Partners, D1 Capital Partners, and Imaginary Ventures. The newly acquired capital will be utilised for product innovation, category expansion, and establishing a physical retail presence. Skims is set to open a flagship store in Los Angeles in the early part of the next year. Additionally, the brand is projected to achieve net sales of $750 million in 2023, a notable increase from around $500 million the previous year. Skims has raised a total of $670 million across all funding rounds, including Series A and Series B rounds. The brand has been steadily expanding its distribution network, including recent pop-up shops in Europe and New York City.
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