Kim Kardashian’s Skims Is Now Worth Over $5 Billion
(SKIMS/Nadia Lee Cohen)
It seems there’s no limit on the Skims empire’s ceiling. Kim Kardashian’s shapewear behemoth has reportedly reached a valuation of $5 billion after raising $225 million in new financing, reports The New York Times.
The cash infusion, led by Goldman Sachs Alternatives, comes as reports indicate that the company, which was founded by Kardashian and Jens Grede in 2019, is profitable and expected to exceed $1 billion in net sales this year. Skims’ previously fund-raised $270 million at a $4 billion valuation in 2023.
(Skims/Nike)
The money will be used to fund new brick-and-mortar stores both stateside and internationally, adding to a list of existing locations in cities including New York, Los Angeles, Austin, Atlanta, and Boca Raton. “Today’s announcement validates the hard work of our incredible team and partners who have helped us reach this exciting new chapter, becoming a global omnichannel retail brand,” Kardashian said.
Continued product expansion can be expected as well. Earlier this year, the brand launched its largest and most comprehensive collaborative line, NikeSkims, following a stream of different limited-edition capsules with high fashion labels like Roberto Cavalli and Dolce & Gabbana.
Serena Williams (Skims/Nike)
The campaign featured numerous elite athletes, including Serena Williams, gold medal-winning Olympic gymnast Jordan Chiles, judoka world champion Romane Dicko, Paralympic athlete Beatriz Hatz, double gold medal-winning Olympic snowboarder Chloe Kim, world No. 1 golfer Nelly Korda, world champion sprinter Sha’Carri Richardson, and three-time NCAA volleyball champion Madisen Skinner.
Well before Niki Skims, the brand had already established a brilliant creative strategy centered on enlisting the world’s hottest celebrities to model new collections, tapping the likes of Sabrina Carpenter, Charli XCX, Tate McRae, Cardi B, Olivia Munn, and others.
(Vanessa Beercroft/Courtesy of Skims)
Charli XCX (Skims)
Sabrina Carpenter (Skims)
Tate McRae (Skims)
Olivia Munn (Skims)
(Skims/Nadia Lee Cohen)
As CNBC notes, the new investment round could relieve pressure on Skims to go public by giving the brand more capital to scale. Perhaps the long-rumored IPO will come in 2026.
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