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Kim Kardashian has quietly stepped down from her managerial role at SKKY Partners, which she co-founded with Jay Sammons in 2022. He was the former Carlyle Group executive.
According to the SKKY Partners website, she is now listed as the co-founder and Senior Operating Advisor whereas previously she was named as the managing partner. Additionally, her mother Kris Jenner has been removed from the position of senior advisor on the official site.
According to the reports, the change was confirmed through recent security filings which indicated that the reality TV star was able to raise just $121 million which was just a fraction of their $1 billion goal. As of March, SKKY Partners fundraised just $121 million in capital commitments and secured just one deal (hot sauce maker Truff).
Axios reported that Kim’s success with her clothing brand Skims failed to translate into fundraising achievements for SKKY Partners. As of now, neither Sammons nor Kardashian has publicly commented on the changes.
All about SKIMS and SKKY Partners
According to its official website, “SKIMS is a solutions-oriented brand creating the next generation of underwear, loungewear and shapewear.” The company has been co-founded by Kim Kardashian, Emma Grede, and Jens Grede in 2019.
LeadiQ reported that the revenue of the company is in the range of $10M - $50M. On July 19, 2023, the company raised a funding of $270M.
SKIMS recently launched Holiday Pajamas for the whole family:
“Tis the season to let your festive sidsideshow, so we also made options from cozy flannel to luxe silky pajamas, all full of comforting holiday cheer,” read the vlog shared by SKIMS on December 17, 2024.
The vlog mentioned that the Holiday Pajamas collection included kids' sleep sets, and baby onesies, matching with the adult classic unisex Fleece Sleep collection, and the adult unisex long-sleeve tee and loose pant pj set.
The brand offers wide range of shapewears in every possible size from “ultra light to extra strong compression” and from “shaping shorts to bodysuits to backless looks.” In October 2023, SKIMS ventured into menswear collection, expanding its vast range of products.
A few celebrities such as Megan Fox alongside Kourtney Kardashian, Kim Cattrall, and Billie Eilish featured in SKIMS’ star-studded campaign, according to a report.
According to InStyle, in November 2021, SKIMS collaborated with Fendi which was an ultimate success as it generated $3 million in sales within 10 minutes.
It also reported that SKIMS partnered with Team USA to launch its limited-edition collection ahead of the 2024 Paris Summer Olympics. The collection aimed to promote comfort and style for the athletes.
SKIMS launched a new collection after collaborating with North Face on December 10, 2024, according to a report. The products feature signature fleece puffer jackets, bodycon jumpsuits, The North Face beanies, The North Face x Skims ski pants, and moon boots.
SKKY Partners is a private equity firm that was co-founded by Kim Kardashian and Jay Sammons in 2022. It focuses on investments in high-growth consumer brands. It aims to identify such brands that resonate deeply with consumers from sectors including health and wellness, food and beverage, beauty, and luxury.
A report in Business Wire stated that the brand made a significant move by acquiring a “minority stake” in Truff, which is a premium brand that deals with truffle-infused condiments such as hot sauce, pasta sauce, mayonnaise, oil, and salt. The brand is not only known for its distinctive flavor but high-quality ingredients which has earned it loyal consumers and an impressive list of collaborators.
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Kim Kardashian is currently recovering from a foot injury, she revealed in an Instagram post on December 6, 2024. According to the latest update, she received a thoughtful Christmas gift from her sister Khloe Kardashian – a bejeweled scooter. Kim earlier shared the news in her Instagram stories.
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