The next big IPO might not be a tech company or social-media startup. Instead, it could come from the Kim Kardashian-backed shapewear company called Skims, IPO expert and hedge fund manager Eric Krull told Benzinga’s PreMarket Prep hosts on Wednesday.
2023 was a slow year for initial public offerings (IPOs) as higher interest rates and uncertain economic conditions scared off many companies and investors. But Krull believes that if the market rallies in 2024, more companies will want to go public. He sees Skims as one of the top companies people are looking forward to seeing go public this year.
“It’s fashion that’s more toward the regular woman, not the supermodel thin people. That one looks like it's getting a lot of talk,” he said.
What Is Skims? Kardashian teamed up with Swedish entrepreneur Jens Grede to launch Skims in 2019. Skims specializes in shapewear, a type of foundation garment designed to be worn under clothes to help customers temporarily alter their bodies. Many people use shapewear products to appear slimmer and highlight curves.
When Skims launched, it sold out of its products in less than 10 minutes, according to Teen Vogue. Since then, the company has grown and was valued at more than $4 billion in June 2023, according to the New York Times.
Skims offers products in a wide range of sizes and shapes. For some products, its offerings span from XXS to 5XL, according to the company’s website. The company also released a product line designed for men in October 2023.
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