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Emma Grede, the 40-year-old Black entrepreneur and co-founder of renowned body-positive shapewear company, Skims, is set to witness a substantial rise in her net worth this year, with her stake in the company surging to $320 million, according to Forbes.
Skims, which Grede co-founded alongside Kim Kardashian and her husband Jens Grede, has experienced remarkable growth in recent times, leading to a significant increase in the value of Grede’s eight-percent stake in the shapewear company.
Starting the year at $256 million, the value of her stake in Skims has now reached $320 million, a remarkable $64-million increase bolstered by the successful completion of the company’s new funding round that raised $270 million.
The recent capital injection, led by Wellington Management and joined by existing investors such as Imaginary Ventures, Thrive Capital, and NEA, has propelled Skims’ overall valuation by a staggering $800 million, reaching an impressive $4 billion from $3.2 billion.
With plans to diversify its product line, expand its retail presence, and bolster marketing initiatives, Skims is well-positioned for continued growth in the market. The company has ventured into various apparel categories, including swimsuits and loungewear, with an upcoming men’s clothing line set to launch in the fall.
Additionally, Skims aims to establish physical stores in both Los Angeles and New York City, further solidifying its position in the industry. Beyond her successful venture with Skims, Emma Grede is also making waves in the retail industry through Good American, the premium apparel brand she co-founded with Khloé Kardashian in 2016.
Earlier this month, Good American achieved a significant milestone with the opening of its flagship retail store at the Westfield Century City Mall in Los Angeles. Grede and Kardashian, both present at the grand opening, cut the ribbon, symbolizing the brand’s dedication to revolutionizing the conventional retail model.
The store, located on the second level of the renowned mall, offers a fully inclusive line of denim, ready-to-wear styles, swimwear, and shoes, catering to a diverse customer base.
With her immense contributions to both Skims and Good American, Grede solidifies her position as one of America’s richest Black women, leaving a remarkable impact on the fashion and retail industry, and her net worth continues to soar to unprecedented levels.
