Kim Kardashian’s Skims Is Worth $5 Billion After Its Latest Fundraise – Business Insider
Kim Kardashian’s Skims Reaches $5 Billion Valuation After Major Funding Boost
Skims, the shapewear company co-founded by Kim Kardashian, has reached a $5 billion valuation after raising $225 million in fresh funding. The round included investors such as Goldman Sachs Asset Management and marks one of the largest financings this year for a U.S. consumer brand.
The company plans to use the new capital to open more stores and expand globally. “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 on Wednesday.
Founded in 2019, Skims started with shapewear and soon added loungewear and casual apparel. It now operates 18 stores across the United States and sells through major retail partners worldwide. Chief Executive Jens Grede said the company expects sales to exceed $1 billion this year, a milestone that strengthens its long-term retail plans.
Skims is now a major player in the athleisure and fashion market, competing with brands like Lululemon and Alo Yoga. Its marketing power extends through high-profile influencers, including members of the Kardashian family, Megan Fox, and Paris Hilton.
The brand has also faced criticism. Its original name, Kimono Intimates, drew backlash for cultural insensitivity, leading to a swift rebranding as Skims. One product—a sleep head wrap—sparked mixed reactions online, with supporters praising its comfort and critics calling it unnecessary.
Despite occasional controversy, Skims continues to grow in reach and reputation, signaling the strength of Kardashian’s business acumen and the brand’s hold on modern fashion retail.
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