Kim Kardashian’s Skims Reaches $5 Billion Valuation
Kim Kardashian’s shapewear label, Skims, has reached a new milestone, securing a $5 billion (£2.93 billion) valuation following a fresh $225 million funding round.
The latest investment – which includes backing from Goldman Sachs’ private investment arm – will help the brand accelerate its global expansion and open more physical stores, according to a company statement released on Wednesday.
“We can’t wait to take Skims to the next level as we continue to innovate and set the standard for our industry,” Kardashian said in a statement celebrating the achievement.
Launched in 2019, Skims began with shapewear and has since evolved into a broader lifestyle brand offering loungewear, underwear, and fashion essentials. The company now operates 18 retail outlets across the US and distributes through international partners, with plans to focus heavily on brick-and-mortar growth over the coming years.
Chief executive Jens Grede said the brand expects to surpass $1 billion in sales this year – a benchmark that has given investors confidence in its long-term prospects amid stiff competition from established players like Lululemon and Alo Yoga.
Skims has also leveraged star power and pop culture appeal through high-profile campaigns featuring the Kardashians, Megan Fox, and Paris Hilton.
The company’s journey hasn’t been without controversy – from backlash over its original name “Kimono Intimates,” which was criticised for cultural insensitivity, to debate over a viral “sleep head wrap” product that divided opinions online.
Despite these hiccups, Skims has firmly cemented itself as one of the fastest-growing fashion brands in the US, and now, one of the most valuable privately held apparel companies in the world.
