Kim Kardashian Marks Skims' Fifth Anniversary After $4 Billion Success: 'What a Journey!'
Kim Kardashian Marks Skims' Fifth Anniversary After $4 Billion Success: 'What a Journey!'
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| Kim Kardashian Marks Skims' Fifth Anniversary After $4 Billion Success: 'What a Journey!' (PC: Instagram) |
Kim Kardashian is celebrating a monumental milestone in her entrepreneurial journey with the fifth anniversary of her shapewear brand, Skims.
Co-founded in 2019 with Jens and Emma Grede, Skims has skyrocketed to a $4 billion valuation in just five years. This remarkable growth has cemented Kardashian’s status as a leading businesswoman, expanding her influence beyond reality TV into the world of fashion and retail.
To mark the occasion, Kardashian took to Instagram on October 5, sharing her excitement with her 364 million followers. “What a journey! Celebrating 5 years of @SKIMS and sharing our brand story in this month's Financial Times HTSI,” she wrote, capturing the essence of her brand's success. While her business partner Jens Grede handles the operational side of the company as CEO, Kim manages the creative aspects, including the brand’s visuals, ideas, fabrics, and fits. She emphasized her role as the face of the brand, a pivotal part of its marketing strategy.
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Skims initially started as a direct-to-consumer online business with a focus on shapewear but has since evolved into a full-fledged apparel company. The brand's growth was rapid and impressive, with its first-year sales exceeding expectations. Skims sold over three million products, earning more than $2 million in profit within its first ten minutes of launch. Such success led to a series of investments and expansions, and by 2022, Skims had a valuation of $3.2 billion. That same year, the company was named one of Time’s 100 Most Influential Companies, an honor that solidified its impact in the fashion industry.
Kim’s fame and influence have played a crucial role in Skims’ success. Her image has been central to the brand’s advertising and marketing efforts, leveraging her global recognition to build a loyal customer base. Beyond just promoting body-positive shapewear, Skims has stood out by offering inclusive sizing and engaging in innovative partnerships. Collaborations with other celebrities and the recent launch of a men’s underwear line in October 2023 highlight Skims’ ability to adapt to market trends.
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The company’s financial growth has been impressive, with revenue in 2023 hitting $713 million, a 45% increase from the previous year. This growth came after an 80% increase in 2021, a testament to Skims’ successful expansion and strategic direction. Industry insiders have recognized Skims as a game-changer in the bodywear category, praised for blending solution-driven essentials with trendy, must-have products. In addition to her Skims empire, Kim Kardashian’s business acumen extends to other ventures.
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