Skims Hits $5 Billion Valuation Amid Expansion Plans

Kim Kardashian’s brand Skims has reached an impressive valuation of $5 billion as the company actively seeks to broaden its retail presence globally.

In its most recent funding round, Skims secured $225 million, a significant increase from its valuation of $4 billion just two years prior, as reported.

Founded in 2019 by Kardashian and Jens Grede, Skims began as a lingerie line but has since diversified into clothing and accessories. It’s expected to generate over $1 billion in sales this year.

The brand has gained attention for its unconventional products, including thongs with faux pubic hair and bras designed with faux nipples, as well as unique facial shapewear.

Plans for the new funding include expanding to new stores, particularly in international markets.

Kardashian, who serves as Skims’ chief creative officer, expressed gratitude, noting that the news reflects the effort of the team’s work to evolve into a global omnichannel retail brand.

Goldman Sachs Alternatives led this funding round, with support from BDT & MSD Partners.

While representatives for Skims and Kardashian did not respond to requests for comments, the brand currently operates 18 retail locations in cities like New York, Los Angeles, and Austin.

The company is also looking to launch new products, including an anticipated partnership with Nike.

Revealed in February, the NikeSkims collaboration features “sports-ready shapewear,” comprising fitted jackets, sports bras, and leggings. Notably, the brand has already established its presence in the sports arena as the official underwear partner for various basketball leagues.

There’s speculation that Kardashian might again pursue a beauty line after past challenges, having recently reclaimed a 20% stake in her beauty brand from Coty.

This month, Skims introduced Ami Colé, a new beauty brand, and has brought in Dirrha N’Diaye from Glossier to oversee the beauty and fragrance sector.

Additionally, a recent product launch—Seamless Sculpt Face Wrap, priced at $48—highlights the brand’s interest in targeted skincare solutions.

Goldman Sachs Alternatives and BDT & MSD Partners are notable new investors, joining previous backers like Wellington Management and Thrive Capital.

Skims’ last funding round occurred in 2023, where it raised $270 million, valuing the company at $4 billion.

Some industry insiders have suggested that an IPO may be on the horizon, but co-founder Grede has tempered expectations by stating, while Skims “deserves” a public offering, it’s not currently a priority for him.