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Skims announced Wednesday that it has raised $225 million in new funding, bringing the shapewear and apparel company’s valuation to $5 billion.
Founded in 2019 by Kim Kardashian and her business partner Jens Grede, Skims plans to use the new funding to drive product innovation and expand into new categories, according to an announcement from Goldman Sachs.
“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,” Kim Kardashian, co-founder and CEO of Skims, said in a statement. “We look forward to taking SKIMS to the next level while continuing to innovate and set the standard for our industry. »
The funding round was led by Goldman Sachs Alternatives, with participation from funds affiliated with BDT & MSD Partners, as noted in the announcement.
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Kim Kardashian attends the NikeSKIMS launch event at Nike House of Innovation on September 24, 2025 in New York. (Dimitrios Kambouris/Getty Images for SKIMS / Getty Images)
Skims said it is on track to surpass $1 billion in net sales this year and is “setting the stage to become a primarily brick-and-mortar business over the next several years,” as noted in the announcement.
“SKIMS presents itself as a solutions-driven apparel innovator, pioneering new categories and redefining everyday wearables,” Beat Cabiallavetta, global head of hybrid capital at Goldman Sachs Alternatives, said in a statement. “We look forward to collaborating with management to capture significant opportunities and drive disruptive and sustainable growth.”
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A Skims pop-up store at the Nordstrom flagship store in New York on June 9, 2024. (Bing Guan/Bloomberg via Getty Images/Getty Images)
The company currently operates 18 stores in the United States, including New York, Los Angeles, Houston and Las Vegas, as well as two franchises in Mexico.
The brand, known for its inclusive sizing and minimalist aesthetic, has built a strong following among younger shoppers, boosted by Kardashian’s influence on social media, according to Reuters.
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Earlier this year, Skims announced its partnership with Nike to launch a new brand aimed at women called NikeSKIMS. (Nike)
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Earlier this year, Skims announced its partnership with Nike to launch a new brand aimed at women called NikeSKIMS.
“SKIMS’ recent launch of the NikeSKIMS brand, in partnership with Nike Inc., exemplifies the company’s commitment to pushing boundaries and delivering cutting-edge innovations,” as stated in the announcement.
Skims did not immediately respond to FOX Business’ request for comment.
