Skims shapes its future with $225M funding round

Skims, co-founded by Kim Kardashian six years ago, has raised $225 million and is now valued at $5 billion. The women’s apparel brand will use the cash to expand its physical presence from its 18 retail stores in the U.S. and two franchise locations in Mexico. The company will also use the capital to invest in product innovation. A Wednesday press release notes that the brand is expected to exceed $1 billion in net sales this year. The round was led by Goldman Sachs Alternatives. “We can’t wait to take Skims to the next level,” Kardashian says.