Shapewear and apparel brand Skims, co-founded by Kim Kardashian, has secured new investment that values the company at $5 billion. The latest funding round included backing from investors such as a Goldman Sachs affiliate and is one of the largest this year for a U.S. consumer brand, according to the BBC.
The company said the new capital will support plans to expand its physical retail presence in the U.S. and internationally. Skims currently runs 18 stores and also sells through global retail partners. It expects to surpass $1 billion in sales this year. According...