Skims, the fast-growing apparel and shapewear brand founded by Kim Kardashian, has secured $225 million in new capital, boosting its valuation to an impressive $5 billion. The latest funding round, led by Goldman Sachs Alternatives with participation from BDT & MSD Partners’ affiliated funds, positions the company for rapid expansion in physical retail and international markets.
The brand, which expects to surpass $1 billion in net sales this year, confirmed that the new investment will fuel its goal of becoming a predominantly physical retail business over the next several years. Skims currently operates 18 owned stores in the U.S. and two franchise stores in Mexico, with plans to significantly grow that footprint.
A Rapid Rise From Online Label to Global Retail Player
Founded just six years ago, Skims first launched as a women’s undergarments and shapewear brand before evolving into one of the fastest-growing names in modern apparel. Its latest valuation marks a major leap from its $4 billion valuation in 2023, following a Series C funding round of $270 million.
Kim Kardashian, the company’s co-founder and Chief Creative Officer, said the milestone reflects the brand’s evolution into a global omnichannel retailer.
“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,” Kardashian said in a statement.
Expansion Into New Categories and Beauty Integration
Skims has aggressively diversified its product line over the past two years. In 2023, it debuted a men’s category, quickly gaining traction in loungewear, underwear, and performance apparel. More recently, the brand announced an athletics collaboration with Nike called NikeSkims, launched in September and expected to strengthen its position in the activewear market.
Further expansion hints appeared earlier this year when Coty revealed plans to sell its 20% stake in Kardashian’s beauty brand Skkn by Kim directly to Skims. While details are limited, the deal signals a consolidation strategy that will bring both beauty and lifestyle operations under the Skims umbrella, creating a broader brand ecosystem.
Accelerating Physical Retail Presence
Skims’ move into brick-and-mortar retail has been swift. In June 2024, the company opened its first permanent store in Washington, D.C.’s Georgetown neighborhood after several years of testing pop-ups in major markets like New York and Los Angeles. The strong performance of these early locations has encouraged plans for more stores across the U.S. and select international regions.
The new funding will allow Skims to scale these ambitions more aggressively, with physical retail becoming a central part of its growth strategy.
A New Era for the Skims Brand
With a $5 billion valuation, expanding product lines, and a retail footprint set to broaden dramatically, Skims is entering its next phase as a dominant player in global apparel. Kardashian’s vision, supported by strategic partnerships and high consumer demand, positions the company at the forefront of modern fashion retail innovation.
