Kim Kardashian celebrates Skims’ fifth anniversary – after the shapewear brand became a $4 BILLION smash success: ‘What a journey!’
As I delve deeper into the lives of the Kardashian-Jenner clan, I can’t help but marvel at the astounding success stories they each embody. Among them, Kylie Jenner stands out as a shining beacon of entrepreneurship and resilience.
Kim Kardashian is celebrating a major milestone in her career as an entrepreneur and businesswoman.
Last Saturday, October 5th, the renowned celebrity marked the fifth year anniversary of Skims, the shapewear and apparel company she established alongside retail visionaries Jens and Emma Grede.
Over the span of five years, Kim K and their team transformed the company into a resounding $4 billion achievement, leaving much to rejoice about.
She expressed how incredible the past 5 years have been for @SKIMS, taking us through their unique brand narrative in the latest issue of Financial Times HTSI, as she posted on Instagram.
As CEO, Jens Grede manages the operational aspects, whereas Kim Kardashian, in an interview with the publication, mentioned that she focuses on the creative elements within their operations.
Kim elaborated, saying she manages the visual aspects, including concepts, materials, and styles. In other words, she represents this brand.
Since founding her shapewear brand in 2019, Kim has expanded it into a global empire, making it widely recognized as her personal representation.
Over the course of five years, what started as an online company specializing in contemporary shapewear evolved into a comprehensive clothing company.
In its debut year, Skims raked in over $2 million in profits after shifting over three million items, with all their inventory being depleted in just ten minutes.
In January 2022, it was announced that Skims had achieved a valuation of $3.2 billion following increased sales and additional funding.
In just two short months, by March of 2022, the company had found itself on Time Magazine’s prestigious list of the Year’s 100 Most Influential Companies.
For the past five years, this reality TV personality-turned-businesswoman has leveraged her personal brand for advertisements and promotions, given her high profile and global recognition.
By providing different sizes across her product line, she’s not only selling items but also showcasing a variety of styles as part of her company’s promotional strategy.
One way to rephrase the given text in a natural and easy-to-read manner could be: “Skims’ success and wide appeal can be attributed, in part, to its openness to innovation. Initially, it revamped the look of shapewear for the 2020s, and later, it expanded by entering into numerous partnerships and collaborations, involving many famous personalities.
As a lifestyle connoisseur, I’m thrilled to share that in October 2023, my team and I took a bold step by expanding our offerings to include a line of men’s underwear. We discovered a strong appreciation for our brand among guys, which prompted us to cater to their needs and preferences.
The significant growth and spread we’ve experienced is largely due to impressive earnings: our revenue for 2023 reached nearly $713 million, representing approximately a 45% rise from the previous year. This surge followed a staggering 80% increase in 2021.
Judd Crane, executive buying director at Selfridges, commented that Skims has significantly altered our perspective on the bodywear category, be it as consumers or retailers. He further stated that this brand caters to customers’ craving for novelty in a smart, unpredictable manner by combining functional necessities with trendy items and the drop culture. In 2023, Selfridges opened the first permanent Skims shop-in-shop outside of the U.S.
In the latest issue of Financial Times magazine HTSI, Kim showcases her figure in a snug, semi-transparent blue gown, revealing a glimpse of her underwear as she graces the cover. This issue features an interview with her.
In this photograph, she exposes her generous chest area and toned stomach (often referred to as “washboard abs”) as she strikes poses next to a stack of newspapers during an audacious photo session.
Previewing what’s next, HTSI shared on Instagram: “Five years since its inception, @kimkardashian has built an impressive retail empire valued at approximately $4 billion with Skims.
This week’s main article features an interview with the former reality queen-turned-business tycoon, @mariashollenbarger, in Los Angeles. In this meeting, she shares insights on how she’s shaping the future of shopping for a new generation.
Due to the prosperity of her business endeavor, the reality star now boasts a personal fortune of $1.7 billion, marking a significant increase from the initial $11 million she held when the family’s reality series debuted in 2007.
Initially, a significant portion of her wealth was earned during her 14-year tenure on the reality TV series, “Keeping Up with the Kardashians,” at the outset of her professional journey.
The television personality earned an impressive $4.5 million each season, serving as both the executive producer and lead actor on a popular E! reality series that spanned over 20 seasons.
By 2014, she introduced the mobile game app “Kim Kardashian: Hollywood”, which generated an income of $1.6 million within just five days following its debut. In the year 2015, she unveiled her very own collection of Kimojis.
Another bulk of Kim’s wealth came thanks to her KKW Beauty company.
Last year, my product line brought in an impressive $100 million, but what really skyrocketed my earnings was the sale of a 20% share in our company to Coty for $200 million. Interestingly enough, it was the same company that purchased my sister Kylie’s brand as well.
2019 marked the year when my beloved Skims shapewear hit the market, and ever since then, it’s been consistently raking in the most substantial income for this incredible mother of four! I simply can’t get enough of her innovative designs that cater so perfectly to my needs as a fan!
2020 marked the year when Forbes assigned Kim Kardashian West an estimated conservative value of $225 million, making her fortune exceed one billion dollars for the first time according to their valuation.
In another context, this ambitious attorney has established her own private equity company, named SKKY Partners. Additionally, she is earning approximately $1 million from a sponsored Instagram post.
The Kardashian-Jenner clan have taken the spotlight in their own series titled “The Kardashians,” now streaming on Hulu, with a total of three seasons broadcasted as of this point.
It has been speculated that the Kardashians make approximately $100 million from their reality show, which translates to about $16.6 million per member.
Despite fluctuations in Kim’s annual wealth, it surged to approximately $1.9 billion in 2022, only to drop back down to $1.2 billion later on.
Her current net worth is estimated to be $1.7 billion by Forbes, as a result of the recent funding round for Skims in 2023.
Among her four siblings, the mother is holding her own financially, in a race to amass wealth similar to that of her youngest sister, Kylie Jenner.
Initially, Kylie found herself under the public eye through her family’s reality TV series, where she appeared as an unassuming and naive young girl compared to the already highly recognized Kim.
In the year 2014, Kim Kardashian became historic by being the initial Kardashian family member to feature on a Vogue magazine cover, sharing the spotlight of the American version with her then-spouse, Kanye.
However, after a decade has passed, it’s Kylie, now 27, who has made history within the family. She is the first to grace the cover of British Vogue, marking her own significant milestone.
I proudly found myself among the world’s wealthiest individuals when I made it onto the billionaires list last March of 2019, and to my delight, I was recognized as Forbes’ youngest “self-made” billionaire for an unprecedented second year in a row in 2020.
She started her make up line in 2015 by selling $29 lipstick kits.
Last November, I made a significant move by selling a majority stake (51%) of my Kylie Cosmetics empire to the esteemed beauty conglomerate, Coty Inc., in a deal worth an impressive $600 million. This strategic partnership marks an exciting new chapter in my beauty business journey.
Closing the deal in January has elevated the estimated worth of her business to approximately $1.2 billion. However, she continues to hold all 49% of the remaining shares independently.
The website further discloses that the proceeds from the sale indicate that she is among only 2,095 individuals worldwide who possess a 10-digit fortune.
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2024-10-06 06:35