Kim Kardashian’s Skims Raises Funds at $4 Billion Valuation

Kim Kardashian’s Skims underwear label has raised fresh funding that values the company at $4 billion.

The $270 million funding round was led by Wellington Management Group and joined by Greenoaks Capital Partners, Skims said in an emailed statement Wednesday. The clothing maker has raised a total of $670 million from investors including D1 Capital Partners and Imaginary Ventures.

Management said it plans to use the funds to develop new products, enter new categories and open company-owned shops. Skims is set to break $750 million in net sales this year, according to Chief Executive Officer Jens Grede ...