Skims, the shapewear company co-founded by Kim Kardashian, has secured $225 million in new investment, pushing its valuation to $5 billion. The funding round, which includes backing from a Goldman Sachs affiliate, will support the company’s plans to expand its physical retail footprint and grow internationally.
Skims said the capital will be used to open additional stores and scale its presence worldwide. Kardashian said on Wednesday that the team plans to “take Skims to the next level” as it continues to develop new products. The company noted that the latest funding round ranks among the largest raised by a U.S. consumer brand this year and comes as competition intensifies from firms such as Lululemon.
The company currently operates 18 stores in the United States and sells through global retail partners. Skims said it intends to focus “predominantly” on its physical retail strategy for the next several years. Chief executive Jens Grede said the expectation of surpassing $1 billion in sales this year reinforces the company’s long-term direction.
Skims launched in 2019 with a shapewear collection and later expanded into loungewear and other fashion lines. The brand’s positioning has pulled it further into the sports and athleisure segment, a market dominated by companies like Lululemon and Alo Yoga. Skims has also built a large influencer network, drawing on the Kardashians and celebrities including Megan Fox and Paris Hilton to promote its products.
The company’s growth has coincided with several public debates. Its original name, Kimono Intimates, drew criticism for overlooking the cultural meaning of the Japanese garment, prompting a rebrand to Skims. Another product — a sleep head wrap — sparked mixed reactions, with some calling it a non-invasive face contouring solution while others viewed it as a design that could contribute to body insecurity.
Featured image credits: Heute.at
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