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Could SKIMS, co-founded by Kim Kardashian and Emma Grede, rival the Jordan brand? Founded in 2019, SKIMS is a brand specializing in underwear, loungewear, and shapewear designed for every body type. Its business footprint has grown to include successful brick-and-mortar locations in Georgetown, D.C.; Aventura, FL; Austin, TX; Houston, TX; Atlanta, GA; and New York, NY. The company also boasts a $4 billion valuation. View this post on Instagram A post shared by SKIMS (@skims) Grede, also CEO and co-founder of Good American, another Kardashian family business, attributes its success —not just the $270 million raised in 2023 or the partnership with The North Face—to more than Kim’s celebrity status. View this post on Instagram A post shared by SKIMS (@skims) “Talent can bring you to a product once, but you don’t come back time and time again,” Grede said in an interview with The Guardian. “You have got to be offering superior product at a price and value people really understand. If it...
Editorial Note: Opinions and thoughts are the author’s own and not those of AFROTECH™. Overhyped tech sectors of cryptocurrency and artificial intelligence have seen a recent resurgence in the past year. Most of AI’s rise can be attributed to the hype and fear that surrounds its use. If you ask OpenAI CEO Sam Altman his thoughts, he’ll tell you that AI is needed to bring us into the future, but to scientists like Dr. Joy Buolamwini who approaches the use of AI cautiously, its lack of regulation can prove harmful to people of color. Despite doubts about the use of AI technology, it’s become almost ubiquitous in culture. Students have used ChatGPT for essay assignments, workers are using ChatGPT to write emails , and others have suggested using AI to create something as simple as grocery lists and corresponding menus. But even as AI and cryptocurrency continue to experience unprecedented growth, experts predict that AI will reach its peak in 2025 and then burst. Still, a second Donald...
North West plans to start her own empire, following in the footsteps of her parents. Her Parents’ Empire Kim Kardashian: North was born into fame as the daughter of Kim Kardashian and Ye, formerly Kanye West, on June 15, 2013, in Los Angeles, CA, though the couple is now divorced. Kardashian shot to stardom following the success of the reality television show, “Keeping Up With The Kardashians,” which aired in 2007 and ran for 20 seasons on E!. By 2016, Kardashian was the highest-paid reality television star, ringing in $51 million annually and boasting millions of followers across Twitter, Facebook, and Instagram at the time, TIME reports. As the show was nearing its end, it was reported by Parade she was earning as much as $4.5 million per season. Kardashian was able to continue her success beyond her time on screen, expanding into business with ventures that included KKW Beauty, which she shut down in 2021 after selling 20% to Coty for $200 million the year prior, according to...
By capitalizing on her status as a leading beauty influencer, Jackie Aina has built the foundation for a prosperous business empire. How It Started Aina, a Nigerian-American born in California’s San Gabriel Valley, came from humbling beginnings. BuzzFeed News mentions she has six siblings, with an even split between brothers and sisters. She recalls “growing up with nothing” at times, bouncing around shelters with her mother and siblings. “Growing up, I had no leverage, I had no rich uncle,” she said, per the outlet. “We got kicked out of a shelter, we couldn’t get to another one quick enough. And when you’re a mom of seven, It’s not easy.” To change her outcome, Aina studied medicine at the California State University, Business Insider reported. That route did not pan out for Aina, and she made the decision to serve in the Army in 2008, after being convinced by her then-boyfriend. They would marry — although they later divorce — and she moved to Hawaii to live with him where she...
Richualist Founder Dawn Myers has scored an investment from “Sharks” Mark Cuban and Emma Grede. On Friday April 5, the founder was featured on ABC’s “Shark Tank.” The purpose of the show is to offer opportunities to entrepreneurs who are looking to start or scale their business by securing funding from its lineup of venture capitalists, its website mentions. The episode starring Myers featured “Sharks” Cuban and Grede, along with Lori Greiner, Kevin O’Leary, and Robert Herjavec. Photo Credit: Christopher Willard Myers was seeking a $150,000 investment in exchange for 10% stake in her company. As AFROTECH™ previously told you, Myers launched The Mint, a hair tool that includes six attachments to detangle and style all hair types, with a special focus on curly to coily types, classified as 3A to 4C. Its technology warms liquid hair products between 130 degrees Fahrenheit and 140 degrees Fahrenheit for deeper penetration into the scalp. Myers said on the show she is currently in talks...
La La Anthony is creating an impact in her hometown of New York City, NY, through her foundation, La La Land Foundation and its ThreeSixty program. According to ThreeSixty’s website, the TV personality, actress, and entrepreneur’s foundation launched ThreeSixty as a program to support young men aged 18 to 21 who are incarcerated at Rikers Island, which has been described as “America’s most notorious jail.” The rehabilitation program provides legal services including connecting the men with lawyers and making court appearances on their behalf. In addition, ThreeSixty has workshops that focus on resume-building, work-training, and life skills. In an interview with People, Anthony detailed how her initiative has created life-changing opportunities. She shared with the outlet that after less than a year of being released from Rikers Island, a formerly incarcerated individual, who had been mentored by ThreeSixty, received a full scholarship to study at Columbia University. “It’s really...
Ghetto Film School (GFS) — the award-winning nonprofit created to help future storytellers by educating, uplifting, and supporting their development — is backed by some of Hollywood’s best including Issa Rae and Yara Shahidi. Now, it plans to amplify its efforts further as Montea Robinson has become the first Black woman CEO. “Whether you know how to write a script or point a camera, we’re going to put a camera in your hands and get you to shoot something with it,” she said in an exclusive interview with Variety. “You’re writing, shooting, directing all of the work…We see filmmaking as a craft that we want to teach our students, but also as a secondary education that helps them understand the agency they have over their own story.” Robinson will be responsible for increasing GFS’s reach and influence while focusing on developing and creating career opportunities for participants. In addition, Robinson plans to make GFS programs more accessible to students while strengthening...
Andy Muir will be sporting a new hat as Skims’ new chief financial officer. Women’s Wear Daily reports the former vice president and chief financial officer of the Jordan Brand will lead inclusivity efforts and spearhead Skims’ growth and financial agendas, as it plans to expand globally. Muir’s presence is timely, as the swimwear and innerwear company, created by Kim Kardashian and Jens Grede, is set to reach new markets, launch new categories, and open brick-and-mortar Skims stores. The advancements will be supported by a Series B funding round in January totaling $240 million. “As Skims expands globally, it’s important to me that we partner with people who resonate with international audiences,” Kardashian said, according to WWD. “As a young brand that’s still growing, we are focused on aligning ourselves with those who represent our brand mission and ethos, while having global influence.” Muir will bring forward an arsenal of skills strengthened by her time working at Nike’s...
Kanye West has given new meaning to the lyrics, “You get the bag and fumble it.” Kanye – now known as Ye – walked away from an $8.5 million ($8 million, plus $500,000 toward production) deal by backing out of his upcoming Coachella performance, which runs two weekends – April 15-17 and April 22-24. According to TMZ, Coachella Festival organizers were completely in the dark regarding the decision. A source told Variety that Kanye had yet to rehearse nor adequately prepared for his Coachella performance. While Ye’s camp has yet to officially confirm his speculated lack of preparation, an additional source reported to Page Six that Ye had plans to address his mental health. While the official cancellation of his performance comes as a surprise, Ye took to Instagram (since removed) to suggest that he would cancel his Coachella performance if-then co-headliner Billie Eilish did not apologize to Travis Scott after helping a fan during one of her shows shortly after the Astro World...
A new claim by Forbes suggests that celebrity startups may not be what we think they are. The outlet starts out by taking aim at both Rihanna and Kim Kardashian’s recent announcements about their latest funding rounds in their celebrity startups, questioning whether Savage X Fenty and SKIMS (respectively) were really worth the money they’d raised in recent funding rounds (Savage X Fenty raised $125 million in a Series C funding round, while SKIMS raised an additional $240 million, thus bringing its new valuation to $3.2 billion). The outlet also points out that celebrity investments (in other words, what they’ve invested from their personal checkbooks) in their own companies are often not disclosed — and neither are the real sales numbers. “All these private companies are on a PR tear and it’s even easier when a big name is involved,” said Sucharita Kodali, a retail analyst at Forrester, to Forbes. What’s more, she said, company valuations are often inflated by up to ten times their...
Things just got a little hectic in the cryptocurrency space for some familiar faces, including Floyd Mayweather. According to Hollywood Reporter, Floyd Mayweather, along with Paul Pierce and Kim Kardashian are being sued for their alleged involvement in an investor cryptocurrency scam, which claims the celebs misled followers in a pump-and-dump scheme.