COTY - Kim Kardashian said to pre-IPO fundraise for Skims; would value brand at close to $4B
2023-07-12 15:07:55 ET
Kim Kardashian is fundraising for her Skims brand ahead of a possible initial public offering, setting the value of the business at nearly $4B, WWD reported citing people familiar.
The round has not closed yet. Skims raised $240 million in a Series B fundraising round in January 2022, valuing the company at $3.2 billion at the time. Skims, a shapewear brand, is said to be on track to produce sales of close to $1 billion this year with a growth rate of about 100%.
The Wall Street Journal reported yesterday that Kardashian is in talks to buy back the 20% of her SKKN skincare line that she sold to Coty ( NYSE: COTY ) in 2021 at a possible discount.
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Kim Kardashian said to pre-IPO fundraise for Skims; would value brand at close to $4B