Kim Kardashian’s shapewear and apparel brand SKIMS has secured $225 million in new funding, catapulting the company’s valuation to $5 billion. The announcement marks a significant milestone for the six-year-old company, which has rapidly transformed from a shapewear startup into a global fashion powerhouse.
The latest funding round was led by Goldman Sachs Alternatives, with participation from funds affiliated with BDT & MSD Partners. This represents a substantial increase from the company’s previous $4 billion valuation in 2023, demonstrating continued investor confidence in the brand’s growth trajectory.
Kardashian, who serves as the company’s co-founder and chief creative officer, expressed her enthusiasm about the achievement. “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,” she stated.
The influx of capital will enable SKIMS to pursue aggressive expansion plans. The company intends to accelerate its brick-and-mortar presence, grow internationally, and invest in product innovation and category diversification. Currently, SKIMS operates 18 stores across major U.S. cities including New York, Los Angeles, and Atlanta, alongside its robust online platform.
The timing of this funding comes as SKIMS approaches a significant revenue milestone. The company expects to surpass $1 billion in net sales in 2025, a remarkable achievement for a brand launched just six years ago in 2019.
CEO and co-founder Jens Grede emphasized the company’s strong position for continued growth. “This milestone reflects continued confidence in our long-term vision and coupled with disciplined execution, positions Skims to unlock its next phase of growth,” he said.
The brand’s success can be attributed to multiple factors. Nearly 70% of SKIMS customers are millennials or Gen Z consumers, reflecting the brand’s appeal to younger demographics. Additionally, SKIMS has expanded beyond its shapewear roots into loungewear, underwear, and activewear, with recent high-profile collaborations including a partnership with Nike that launched earlier this year.
Beat Cabiallavetta, global head of hybrid capital at Goldman Sachs Alternatives, praised the brand’s innovative approach. “Skims stands as a solutions-driven apparel innovator, pioneering new categories and redefining everyday wear,” he noted.
The substantial funding may also impact the company’s previously discussed plans for an initial public offering, potentially allowing SKIMS to continue scaling as a private company without immediate pressure to go public. As Kim Kardashian’s empire continues to grow, this latest valuation solidifies SKIMS as one of the most successful celebrity-founded fashion brands in recent history.
