Kim Kardashian’s Skims shapewear valued at $1.6 billion

Kim Kardashian’s newest startup just joined her in the billion-dollar club.

The reality TV icon’s Skims shapewear brand says it’s snagged a new batch of private investments valuing it at $1.6 billion. The deal also stands to lift Kardashian’s coffers on the heels of her being granted billionaire status for the first time this week. The $154 million fundraising round was led by Thrive Capital, the New York-based venture firm led by Josh Kushner, husband of supermodel Kardashian pal Karlie Kloss.