The US lingerie supplier Skims has secured fresh money for further growth. The shapewear specialist, which co-founded Kim Kardashian, announced on Thursday that it has raised $270 million in a Series C funding round.
Investment firm Wellington Management led the latest round of funding, which valued Skims at $4 billion. Financial firms Green Oaks Capital Partners, D1 Capital Partners and Imaginary Ventures also participated.
According to Skims, it intends to use the additional funding to accelerate product innovation and expansion into new categories. In addition, it is intended to support the establishment of an in-house retail network. The company announced in June that it would open a flagship store in Los Angeles in early 2024.
The lingerie supplier already has ambitious growth targets for the current financial year: Annual sales, which were last at just under 500 million US dollars, are to be increased to 750 million US dollars.