Kim Kardashian’s Skims is preparing for an IPO that could help reset expectations for fashion on Wall Street.
Why with the 24/7, always-on world of social media knocking down the door would anyone actually need more of the mega influencer? Kardashian, who over her career has managed to be in the right place more often than not, finds herself there again and in a couple of ways.How Tommy Hilfiger Has Kept the Momentum Going for Nearly 40 Years: A History and Timeline
Bill Smith, cofounder and chief executive officer of IPO specialist Renaissance Capital, said in recent analysis: “The stock market is firing on all cylinders and yet the IPO calendar is empty….Not many IPOs want to be first. Despite the rally in tech stocks, IPO investors have been cautious around pricing, and want bigger discounts until they see a consistent stream of winners. Many companies can afford to wait for others to be the guinea pigs.
It’s a business that not only meets many of the fashion industry’s modern aspirations, but also the demands of Wall Street. A profitable and growing business would also bring Wall Street back to one of its favorite themes. The post-pandemic rush of IPOs from the likes of Allbirds and Rent the Runway Inc. did little good to anybody as coming to market with growth, but no profits, led to a series of stock market face-plants. Still, there are plenty of businesses still struggling to make their way, like Macy’s Inc.
But Kardashian’s success has drawn attention, just like the success of Rihanna’s Fenty hasn’t gone unnoticed in beauty. And that will in turn push everybody else all the harder, helping the fashion industry inch toward its next iterationThis is how it happens, brands, designers and CEOs chase the restless spirit of the consumer — catch it, lose it, catch it again and fashion moves a step forward.
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