Kim Kardashian’s shapewear brand, Skims, has reached a staggering valuation of $4 billion in its latest fundraising round led by Wellington Management, an asset management company. This marks a significant increase from 2022 when Skims was valued at $3.2 billion. With this development, Kim Kardashian’s net worth has surged to $1.7 billion, up from $1.2 billion, primarily attributed to her 35% ownership stake in Skims. She now ranks third among America’s richest female celebrities, following Oprah Winfrey and Rihanna.

Skims, initially an online shapewear brand, has expanded its product line to include loungewear, swimwear, and plans for brick-and-mortar stores and men’s apparel. Sales projections for Skims are impressive, expected to reach $750 million in 2023, up from $500 million the previous year. Notably, the brand appeals significantly to Millennials and Generation Z, who constitute 70% of its customer base.

Apart from Skims, Kardashian’s business ventures include KKW Beauty and SKK by Kim. KKW Beauty, established in 2017, saw 20% of its stake sold to Cody Incorporated for $200 million in 2020. Kardashian later pivoted to launch SKK by Kim, a luxury skincare line, offering high-end products like a nine-step skincare routine priced at $673.

In addition to her entrepreneurial pursuits, Kardashian ventured into private equity with SKKY Partners, co-founded with Jay Sammons. SKKY aims to invest in consumer and media companies across various industries, including hospitality, digital, e-commerce, and luxury retail. The firm seeks to raise over $1 billion from investors, with Chris Jenner, Kim Kardashian’s mother, among its partners.

Kardashian’s media presence has been instrumental in her success, with ventures like “Keeping Up with the Kardashians” and its spin-offs contributing to her wealth. The Kardashian-Jenner family reportedly agreed to pay $150 million to E Network for the final five seasons of their reality show. Additionally, Kardashian’s social media influence, with 363 million Instagram followers, commands significant earnings, with sponsored posts fetching between $300,000 to $1 million each.

Beyond her business acumen, Kardashian’s cultural impact is evident in her collaborations and endorsements, including partnerships with Beats and Alani Nu. Skky plans to leverage Kardashian’s celebrity status and social media influence to enhance its investments and brand partnerships, aiming to capitalize on her transition from reality TV star to cultural icon and entrepreneur.

In conclusion, Kim Kardashian’s multi-million dollar empire encompasses diverse ventures, from shapewear and beauty to private equity, all fueled by her entrepreneurial spirit and cultural influence. With Skims leading the charge, Kardashian continues to redefine success in the realms of business and celebrity.