From Reality Star to Billion-Dollar Brand: Skims Soars to $5 Billion Valuation

Skims, the shapewear sensation co-founded by Kim Kardashian, has reached an impressive $5 billion valuation following a major funding infusion of $225 million. This significant investment, backed by major players including Goldman Sachs, will enable the brand to not only expand its footprint with more retail locations but also propel its global ambitions.

Kardashian expressed excitement about the future, stating, “We can’t wait to take Skims to the next level as we continue to innovate and set the standard for our industry.” This funding round marks one of the largest for a U.S. consumer brand this year, amidst escalating competition from industry giants like Lululemon.

Currently, Skims operates 18 stores in the U.S. and distributes products internationally, prioritizing growth in its physical retail sector in the upcoming years. Skims anticipates exceeding $1 billion in sales this year, a figure that Skims chief executive Jens Grede believes validates their strategic direction.

Since its 2019 launch with a focus on shapewear, Skims has diversified its offerings to include loungewear and various fashion lines, firmly positioning itself within the highly competitive sports and athleisure market. The brand has also cultivated a host of celebrity influencers, including members of the Kardashian-Jenner clan, Megan Fox, and Paris Hilton, to enhance its appeal.

However, Skims’ journey hasn’t been without controversies. The initial brand name, Kimono Intimates, sparked backlash for cultural insensitivity, leading to its rebranding as Skims. Additionally, certain products, like a sleep head wrap, have divided opinions, with some praising it for its innovative approach to beauty while others deride it as contributing to societal insecurities about appearance. \(Continue to watch as Skims navigates the complex landscape of fashion and social commentary while striving for continued success!\)