Kim Kardashian's SKIMS raises $240 mn, valuation doubles to $3.2 bn

Kim Kardashian-owned shapewear label SKIMS has doubled its valuation to $3.2 billion after raising $240 million in fresh funds. The funding was led by hedge fund Lone Pine Capital and also included D1 Capital Partners, as well as existing investors Thrive Capital, Imaginary Ventures and Alliance Consumer Growth. Launched in 2019, SKIMS sells bras, loungewear and shapewear directly to customers.