"Economic uncertainty has pushed consumers to become far more selective with their spending, resulting in ongoing sales declines and reduced foot traffic for many retailers. This weakening demand has forced even the most established brands to close stores as they grapple with declining customer demand and the continued rise of online shopping. However, while many long-standing retailers struggle to stay afloat, a newer contender has emerged as a significant player in the industry."
"Former Paris Hilton assistant turned reality star and entrepreneur Kim Kardashian has built a billion-dollar fortune through her immensely successful reality TV shows, production deals, and, undeniably, her booming Skims brand. Alongside her co-founder, Kardashian launched Skims in 2019, introducing a shapewear and apparel line designed around body positivity and inclusivity, with sizes ranging from XXS to 4X."
"Perhaps time was of the essence, as the pandemic fueled an obsession with online shopping, particularly loungewear, driving U.S. e-commerce sales up 43% in 2020, according to the U.S. Census Bureau. Maybe it was Kardashian's celebrity power, the strength of the brand, or a combination of both. Either way, Skims has become a global phenomenon, growing at a rate most long-standing brands can only envy."
Economic uncertainty prompted consumers to cut discretionary spending, causing sales declines and reduced store traffic that pushed several established retailers to close locations amid rising online shopping. A newer brand, Skims, launched in 2019 by Kim Kardashian and a co-founder, capitalized on e-commerce momentum and loungewear demand during the pandemic. Skims emphasizes body positivity and inclusivity with sizes from XXS to 4X and uses diversity, social media, and scarcity tactics to drive engagement. Celebrity influence, targeted marketing, and timing helped Skims expand rapidly. Skims reached a $5 billion valuation after a recent funding round.
Read at Miami Herald
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