Kim Kardashian’s shapewear and apparel brand Skims has reached a new milestone, securing a $5 billion valuation following a fresh funding round that raised $225 million. The investment, announced Wednesday, was led by Goldman Sachs Alternatives with additional participation from affiliated funds of BDT & MSD Partners.
The newly secured capital signals Skims’ intention to transform from a dominant online force into a primarily physical retail brand, accelerating global expansion and boosting innovation across multiple product categories.
The company, which is on track to exceed $1 billion in net sales this year, currently operates 18 owned stores in the U.S. and two franchise locations in Mexico, with plans for aggressive growth in both domestic and international markets.
Skims Targets Rapid Retail and Category Expansion
Skims plans to use the new funds to expand its brick-and-mortar footprint, grow internationally, and diversify its catalogue beyond shapewear. The brand is already active in categories such as women’s apparel, activewear, and menswear, and the investment will fuel even deeper category penetration.
The valuation jump comes two years after Skims completed a $270 million Series C round that valued the company at $4 billion. Since then, the brand’s momentum has only accelerated.
Co-founder and Chief Creative Officer Kim Kardashian described the announcement as a validation of the brand’s evolution.
“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,” she said in a statement.
A Look at Skims’ Expanding Universe
Founded six years ago, Skims made its name in the shapewear market before quickly expanding into broader apparel segments. The brand launched menswear in 2023 and recently debuted NikeSkims, an athletic collaboration with Nike, in September. This strategic move into performance apparel highlighted Skims’ ambition to compete across multiple fashion categories.
Further expansion hints emerged when Coty announced in March that it would sell its 20% stake in Kim Kardashian’s Skkn by Kim beauty line directly to Skims. This consolidation suggests a move to unify beauty, lifestyle, and fashion under a single umbrella brand.
Fast-Growing Retail Footprint
Skims’ physical retail rollout has been accelerating. Its first permanent store opened in June 2024 in Washington, D.C.’s Georgetown neighborhood, following years of experimenting with high-profile pop-up locations in cities like Los Angeles and New York.
With new funding in place, Skims plans to significantly expand its store network, strengthening its omnichannel presence and appealing to a wider global audience.
As one of the fastest-growing brands in fashion and retail, Skims’ latest valuation reflects not only the strength of its celebrity-backed appeal but also its rapid innovation, strategic collaborations, and aggressive expansion plans.
