How did Kim Kardashian turn Skims into a US$5 billion brand?
The shapewear and athleisure brand founded by Kardashian has been valued in the billions after a recent round of fundraising led by Goldman Sachs Alternatives in the US
The brand, known for its sleek bras and tank tops and sculpting bodysuits, completed a US$225 million capital raise last week led by Goldman Sachs Alternatives. It was one of the largest private raises for a consumer brand in the United States this year.
The company expects to exceed US$1 billion in net sales in 2025. It was previously valued at US$4 billion in 2023.
“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, who serves as chief creative officer, said in a statement. “We can’t wait to take Skims to the next level as we continue to innovate and set the standard for our industry.”
Kardashian and Skims’ chief executive Jens Grede launched the brand in 2019, after Kardashian had been in the public eye for more than a decade as a reality TV star and brand partner. Her visibility helped boost the brand in its early years and led to explosive sales growth.
With high-profile collaborations and carefully curated ad campaigns, Skims has gained a cultlike following. The company made a big dent in an area previously dominated by Spanx – selling form-fitting clothes to women meant to improve the wearer’s figure.