Funding company Wellington Control is in talks to guide a brand new investment spherical for Skims, which might price the lingerie clothes corporate owned via Kim Kardashian at about $4 billion, consistent with other folks acquainted with the topic.
The Boston-based asset supervisor is in discussions to make a vital dedication to the fast-growing trade in what might be its ultimate fundraising because it gears up for an preliminary public providing that would occur inside of a 12 months, the assets stated, inquiring for anonymity for the reason that topic is confidential.
Skims and Wellington didn’t reply to remark requests. Girls’s Put on Day by day reported at the Skims investment spherical previous on Wednesday with out naming Wellington.
Skims introduced in 2019 and sells bras, loungewear and shapewear without delay to consumers thru its on-line retailer and at retailers owned via division retailer chains.
The assets stated Skims raked in $500 million in earnings in 2022, and is successful. The corporate raised $240 million ultimate 12 months at a $3.2 billion valuation, led via hedge fund Lone Pine Capital. Different traders integrated D1 Capital Companions, in addition to present traders Thrive Capital, Imaginary Ventures and Alliance Client Expansion.
Kardashian’s companies – which additionally come with make-up logo KKW – have received reputation with younger consumers over the previous couple of years due to the TV persona’s large social media following.
Kardashian may be actively elevating price range for her new personal fairness company SKKY Companions, which specializes in shopper and media investments. She co-founded the company ultimate 12 months with ex-Carlyle Crew Inc govt Jay Sammons.
Via Abigail Summerville and Krystal Hu; Editor: Diane Craft
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