Kim Kardashian’s shapewear company Skims is now worth US$4bn (approximately £3.09bn) after a new funding round raised US$270m (£209m). This makes Skims a unicorn company four times over. A unicorn company refers to startup companies with a value of more than $1bn. The company, co-owned by Kardashian, 42, and her business partner Jens Grede, plans to announce its new valuation today (Wednesday 19 July), according to the New York Times. Its previous valuation given by investors was $3.2bn. The reality TV star, best known for starring in 20 seasons of Keeping Up With The Kardashians and The Kardashians, said in an interview: “It has grown quickly and we’re so proud of that. We’ve had a really good flow of product launches.” Kardashian launched Skims in 2019 as she wanted to create shapewear that fits her own skin tone and body type. The brand has since released numerous ranges, including loungewear, maternity wear and swimwear. In 2021, the success of the brand increased Kardashian’s net worth to US$1bn, which earned her a spot on Forbes’ World Billionaires List. Last year, when Skims hit its US$3.2bn valuation, it was estimated that Kardashian became US$600m richer. The company secured US$240m in a funding round led by hedge fund Lone Pine Capital, as well as previous investors. Grede, who is Skims’s chief executive, said in an interview that the company was now profitable and on track for US$750 million in sales this year, up from US$500 million in 2022. Grede said nearly 70 per cent of the company’s overall customers are millennials or Gen Zs, while about 15 per cent of the company’s online customers come from outside of the US. Over the last year, he said that 11 million people have joined waiting lists to buy the brand’s most popular items, which regularly sell out. Skims’ bestseller products include its viral “seamless sculpt bodysuit”, which comes with extra compression at the core and waist areas to create a “figure-enhancing” look. The product description says the bodysuit will “flatter your bust, and rounded butt pockets for a lifted look”. Another bestseller is the “soft lounge long slip dress”, a basic maxi slip dress with a body-hugging fit. For a recent collection launched by the brand, British singer-songwriters Raye and PinkPantheress were enlisted to promote it, along with Bronx rapper Ice Spice. The Kardashian family are also responsible for a myriad of viral beauty and fashion companies. Kim also owns a skincare brand named SKKN BY KIM, which sells a nine-product step-by-step routine for “radiant skin”. Kim’s half-sister, Kylie Kenner, is the founder of beauty brand Kylie Cosmetics, which sells makeup and skincare products. Meanwhile, Khloe Kardashian is the co-founder of Good American, a self-claimed “fully inclusive fashion brand” and Kendall Jenner owns the alcohol brand 818 Tequila. Read More Between Brexit and Covid, London’s food scene has become a dog’s dinner – can it be saved? Influencer Annabelle Ham dies at age 22: ‘A light to the world’ Cruise line apologises after passengers witness dozens of pilot whales being slaughtered Woman claims Skims bodysuit ‘saved’ her life after she was shot four times TikTokers are showing off pink outfits they’re going to wear to watch Barbie movie Florence Pugh’s fans praise star for saving Emily Blunt from wardrobe malfunction

Almost 1.5 million people aged 18 and under were referred for mental health support in 2022, according to a youth mental health charity. According to YoungMinds’ analysis of data from NHS Digital, there were 1,425,193 referrals last year, a rise of 76% since 2019. The charity also said it is the second consecutive year that referrals have topped one million. Laura Bunt, chief executive of YoungMinds, said: “Every day without action is another day thousands of young people are without the mental health support they need. Behind every number is a young person facing impossible challenges.” In April 2022, the Government made a call for evidence for a new 10-year mental health plan. Any new plan for the NHS workforce needs to include significant measures to increase the numbers of mental health specialists we have working in children and young people's mental health services Tom Madders, YoungMinds As part of the call, 13,887 people under the age of 25 completed a YoungMinds survey and the answers were shared anonymously with the Government. Ms Blunt said those who responded made it “loud and clear what change was needed”. However, the plan was shelved in favour of the Major Conditions Strategy, which grouped mental illness together with the likes of cancer and chronic respiratory diseases. The call for evidence for the new strategy ends on Tuesday. In response, YoungMinds and a group of young people will take two vans to Westminster displaying messages from some of the people who responded to the initial call over the 10-year mental health plan. Ms Blunt added: “Twelve months on, as the situation worsens, we are still waiting. The Government had an opportunity to hear from young people and take action that could transform the system, but all we’ve seen is delay. “The Government must listen to young people and commit to action that drives down numbers of young people needing support, prioritises early intervention, and properly funds mental health services.” Tom Madders, director of communications and campaigns at YoungMinds, said: “This explosion in referral numbers has led to wait times being as long as two years in parts of the country. “One of the biggest barriers for getting wait times down is the lack of staff and young people are paying the price for a total absence of workforce planning over the past few years.” On Sunday, Prime Minister Rishi Sunak said the NHS Workforce Plan, a 15-year blueprint outlining how the NHS will retain and recruit staff, will be published this week. Mr Madders added: “Any new plan for the NHS workforce needs to include significant measures to increase the numbers of mental health specialists we have working in children and young people’s mental health services.” Read More Charity boss speaks out over ‘traumatic’ encounter with royal aide Ukraine war’s heaviest fight rages in east - follow live Holiday hygiene horrors: Summer health risks to avoid, from flying to hotels Pretty garden plants you didn’t know you could eat Group B Strep: 8 things every parent should know

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