Kim Kardashian’s Skims valued at $5bn after latest funding round
The investment will support a push towards becoming a predominantly bricks-and-mortar retailer over the next few years
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Skims has closed a $225m (£170.9m) equity financing round that values the apparel company at $5bn (£3.80bn) with the proceeds earmarked for further store openings, international growth and product development.
The round, announced on 12 November, was led by Goldman Sachs Alternatives with participation from affiliated funds of BDT and MSD Partners.
The investment will support a push towards becoming a predominantly bricks-and-mortar retailer over the next few years.
It will also support further product development across intimates, shapewear, apparel and activewear.
It currently sells through its website and operates 18 stores in the US and two franchise sites in Mexico.
Among the priorities for the new capital is expanded research and development across intimates, shapewear, apparel and activewear.
The business recently launched the NikeSkims range in partnership with Nike Inc.
Skims, founded in 2019 by Kim Kardashian and Jens Grede, expects to pass $1bn in net sales in 2025.
Kardashian, co-founder and chief creative officer of Skims, said: “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. We can’t wait to take Skims to the next level as we continue to innovate and set the standard for our industry.”
Grede, co-founder and chief executive, added: “This milestone reflects continued confidence in our long-term vision and coupled with disciplined execution, positions SKIMS to unlock its next phase of growth.”
