The brand, Skims, co-founded by reality star and entrepreneur Kim Kardashian, is said to have increased its value to $5 billion after securing $225 million in new funding.

The company says it plans to use money from investors, including a branch of Wall Street banking giant Goldman Sachs, to open more stores and expand worldwide.

"We can't wait to take Skims to the next level as we continue to innovate and set the standard for our industry," Kardashian said Wednesday.

The funding round is one of the largest this year for an American consumer brand and comes as Skims faces stiff competition from rivals like Lululemon.

Skims, which manages 18 stores in the US and sells its products through retailers worldwide, said it will focus "primarily" on its physical retail business over the next few years.

The company expects sales to exceed $1 billion this year, an achievement that according to Skims CEO Jens Grede, gives the firm the confidence to pursue its long-term goals.

The brand debuted in 2019 with a line of corsets and has since expanded its range to include comfort wear and other fashion categories.

stardom Entertainment