Skims, the shapewear brand co-founded by Kim Kardashian, has entered a new phase of accelerated growth. The company announced that it has raised $225 million in fresh capital, bringing its valuation to $5 billion. The latest funding round was led by Goldman Sachs Alternatives, with participation from funds affiliated with BDT & MSD Partners.
Skims plans to use the newly raised capital to expand its intimates and shapewear lines, grow its apparel and activewear categories, and strengthen its physical retail and international presence. The brand currently operates 18 stores across the United States and two franchise locations in Mexico, with the aim of evolving into a predominantly brick-and-mortar business over the next several years.
Kim Kardashian, co-founder and Chief Creative Officer, commented, “We can’t wait to take Skims to the next level as we continue to innovate and set the standard for our industry.”
CEO Jens Grede also addressed the milestone, stating, “This milestone reflects continued confidence in our long-term vision and coupled with disciplined execution, positions Skims to unlock its next phase of growth.”
Skims’ Rapid Rise Since Its Founding
Since its launch in 2019, Skims has reshaped the shapewear category with inclusive sizing and modern design, quickly gaining mainstream attention. The brand introduced its menswear category in 2023, followed by its Nike collaboration, “NikeSkims,” in 2024—solidifying its expansion into the growing athleisure market.
The company expects to surpass $1 billion in revenue this year, marking a significant achievement just a few years after its founding.
Integration of Beauty and the Expansion of Brand Territory
In 2024, Coty sold its 20% stake in Kardashian’s beauty brand, Skkn by Kim, to Skims—bringing the beauty and lifestyle businesses under one unified umbrella. The move signals a strategic acceleration of category expansion within the Skims ecosystem.
Kardashian’s influence across social media, along with strong appeal among younger consumers, continues to play a major role in the brand’s rapid growth. The broader market has also seen rising interest in celebrity-founded brands, highlighted by e.l.f. Beauty’s roughly $1 billion acquisition of Hailey Bieber’s Rhode.
Skims Becomes One of the Largest Players in the Industry
Following the latest funding round, Skims is now valued higher than the combined market capitalization of Victoria’s Secret and Under Armour. According to Forbes, the deal has also increased Kardashian’s personal net worth to $1.9 billion, adding approximately $200 million to her fortune.
With its expanding retail footprint and strong momentum across categories, Skims is poised to further strengthen its global presence in the years ahead.
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