Skims Reaches $5B Valuation, Challenging Lululemon

Skims, co-founded by Kim Kardashian, has reached a five billion dollar valuation, marking a significant jump in just two years. The shapewear and apparel line raised two hundred twenty-five million dollars in a new funding round led by Goldman Sachs. Skims expects one billion dollars in annual sales this year and plans to expand its physical store presence and grow into more international markets. In contrast, Lululemon, a long-standing activewear giant, faces headwinds with only a one percent increase in net revenue in the Americas and a four percent decrease in comparable sales. DNN | The Daily News Now! The world’s first global local news network. Every city. Every story. AI powered. Hosted on Acast. See acast.com/privacy for more information.