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Skims doubles valuation to 3.2 billion dollars

By Kristopher Fraser



Image: Steven Meisel
Kim Kardashian woke up richer this morning. The entrepreneur’s solutionwear label Skims has doubled its valuation to 3.2 billion dollars from nine months ago. Investors are continuing to cut big checks to emerging brands, like Skims, making Kardashian’s brand a big target for investors with deep pockets. The news was reported by Bloomberg.

The latest round of 240 million financing was led by hedge fund Lone Pine Capital who was joined by D1 Capital Partners. Existing investors including Imaginary Ventures, Alliance Consumer Growth, and Thrive Capital also participated.

“This latest round will allow us to focus on bringing more innovations and solutions to our customers and become even more of a trusted resource for them,” Kardashian said in an email to Bloomberg.

Kardashian and her business partner Jennifer Grede retain a controlling stake in Skims after the deal. Grede says there are no plans on the horizon to sell the brand or launch an IPO, though the latter could change later.

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