Los Angeles-based Skims‘ finance team is on the road, raising a fresh round of investments that put the brand’s evaluation at $4 billion, according to WWD. The latest moves follow a round of fundraising in January 2022 that put the company worth at $3.2 billion.
The current round of fundraising is viewed as a pre-IPO (initial public offering) fundraise, indicating the company may go public in the next six-to-12 months.
The four-year-old brand founded by Kim Kardashian with husband and wife Jens and Emma Grede, is on track to register close to $1 billion in sales this year with a growth rate of approximately 100%, numbers racked up sans any physical stores.
According to Forbes, Kardashian owns a 35% stake in the brand as of January 2022. Meanwhile her ex, Ye, an initial investor in Skims, is said to have recently sold his stake.
While the IPO market has been quiet as of late, there are indications a new cycle starting back up. Recently, WWD reported rumors of Birkenstock going public.