reported that Kardashian’s shapewear line, Skims, had doubled its valuation to $3.2 billion after raising $240 million in new capital. billionaires thanks to their businesses, Rihanna and Kardashian are quick to gush about company growth on social media and elsewhere, but, like many celebrity entrepreneurs, they are heavily guarded when it comes to disclosing crucial financial information.
“All these private companies are on a PR tear and it’s even easier when a big name is involved,” says Sucharita Kodali, retail analyst at Forrester. She adds that when it comes to valuations, most startups lie, typically by a factor of 2x to 10x. “Who knows,” she adds, “because no one has seen the term sheets.”
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