Boston-based investment firm Wellington Management is in talks to lead a new round of funding for SKIMS, led by Kim Kardashian and Jens Grede, Skims CEO and co-founder.

Reports are that the financial math currently on the table would establish a financial valuation for SKIMS of $4 billion. Assumptions are that this would be the final round of fundraising before an initial public offering that could come in about a year.

Reuters reports that “Skims raked in $500 million in revenue in 2022, and is profitable. The company raised $240 million last year at a $3.2 billion valuation, led by hedge fund Lone Pine Capital. Other investors included D1 Capital Partners, as well as existing investors Thrive Capital, Imaginary Ventures and Alliance Consumer Growth.”

Kardashian is also raising money for her private equity firm SKKY Partners, which she formed in 2022 with Jay Sammons, former Global Head of Consumer, Media & Retail at the Carlyle Group.