SKIMS Secures $225 Million in Funding, Valued at $5 Billion USD
SKIMS, the wildly popular shapewear and apparel brand co-founded by Kim Kardashian, has just announced a major milestone in its rapid rise to success. The company has secured a whopping $225 million in new funding, bringing its total valuation to an impressive $5 billion USD.
This latest round of funding, led by investment giant Goldman Sachs Alternatives, solidifies SKIMS’ position as a dominant force in the fashion industry. Since its launch in 2019, the brand has expanded beyond its original shapewear category and is projected to reach over $1 billion USD in net sales this year. With a diverse range of offerings including loungewear, activewear, and men’s basics, SKIMS has truly become a one-stop-shop for all things comfortable and stylish.
As Chief Creative Officer, Kardashian has been instrumental in shaping the brand’s success and vision. She has made it her mission to “set the standard for our industry,” and with this new funding, SKIMS is poised to do just that. The majority of the capital will be used to accelerate global expansion and shift towards a predominantly physical retail business model.
While SKIMS initially made its mark in the digital space, the brand has big plans to increase its brick-and-mortar presence in the coming years. This move follows strategic moves to consolidate its power, including the full acquisition of Kardashian’s beauty line, SKKN by Kim, and a major collaboration with Nike on women’s activewear.
With a valuation of $5 billion USD, SKIMS is now a strong contender for a future Initial Public Offering (IPO). This success story serves as a prime example of how a celebrity-backed venture can disrupt traditional retail and achieve incredible success. Keep an eye out for SKIMS as it continues to make waves in the fashion world.
