Kim Kardashian's Skims raised $240 million in a new funding round that has doubled the shapewear label's valuation to $3.2 billion, Bloomberg News reported on Thursday.

The financing round was led by hedge fund Lone Pine Capital and joined by investment firm D1 Capital Partners, according to the report https://www.bloomberg.com/news/articles/2022-01-27/kim-kardashian-s-skim-underwear-brand-doubles-valuation-to-3-2-billion?sref=2h1zKciy, citing Skims Chief Executive Officer Jens Grede.

Skims, Lone Pine and D1 did not immediately respond to Reuters' requests for comment.

Skims, which was launched by Kardashian in 2019, was valued at $1.6 billion in April.