Skims hits $5 billion valuation after funding round led by Goldman
Skims underwear is displayed on a shelf at a Nordstrom store in Corte Madera, California, on March 25, 2025.
Justin Sullivan | Getty Images
Kim Kardashian’s Skims brand raises $225 million in new funding led by Goldman Sachs Alternatives value the shapewear and apparel company at $5 billion in 2023, up from about $4 billion in 2023.
The deal comes six years after Skims’ launch in 2019, with annual net sales approaching $1 billion, marking one of the biggest private raises for a U.S. consumer brand this year. Affiliated funds from BDT and MSD Partners also participated in the round, Skims said in a statement on Wednesday.
Skims plans to use the new capital to accelerate physical and international expansion, as well as product innovation and category diversification. Company 18 stores It plans to open additional stores abroad in 2026, including in cities across the US such as New York, Los Angeles, Austin and Atlanta, and one in Mexico.
Skims said it has laid the foundations to become a “predominantly brick-and-mortar business” in the coming years, a milestone for a company that is building its reputation as a digital-first direct-to-consumer brand.
“This milestone reflects continued confidence in our long-term vision and, combined with disciplined execution, positions Skims to unlock the next phase of growth,” CEO and co-founder Jens Grede said in a statement. he said.
The new funding follows the launch of NikeSkims, a partnership with NikeSkims. Nike The product was released at the beginning of this year and sold out within a few hours. The collaboration signals Skims’ desire to scale beyond core shapewear into activewear, ready-to-wear and performance categories, further pushing the brand into the mainstream athletic wear market where the brand dominates. lululemona handful of startups and Nike itself.
The new capital infusion could further delay Skims’ IPO. According to Grede’s statements, the company plans to go public at least since 2024.
While the consumer IPO market remains largely stagnant in 2024 and 2025, few fashion or beauty brands are launching as investors remain wary of discretionary retail. By raising new private funding, Skims can continue to scale without immediate pressure to list.
“Skims stands as a solutions-focused apparel innovator pioneering new categories and redefining casual wear,” said Beat Cabiallavetta, global head of hybrid equity at Goldman Sachs Alternatives. “We look forward to partnering with management to capture significant opportunities and deliver disruptive, sustainable growth.”
Since its launch, Skims has developed a cult following for its inclusive sizing, minimalist aesthetic, and high-profile campaigns featuring global athletes and celebrities. Kardashian, who serves as creative director, said the new funding marks an “exciting new chapter” for the company.
“We look forward to taking Skims to the next level as we continue to innovate and set standards for our industry,” Kardashian said.
