Skims underwear is displayed on a shelf at a Nordstrom store on March 25, 2025, in Corte Madera, California.
Kim Kardashian's Skims brand has successfully raised $225 million in a new funding round spearheaded by Goldman Sachs Alternatives, placing the shapewear and apparel brand's valuation at a noteworthy $5 billion, an increase from its approximate $4 billion valuation after the 2023 round.
This significant deal comes as Skims approaches $1 billion in yearly net sales, just six years following its launch in 2019. It marks one of the largest private funding rounds for a U.S. consumer brand this year. Also participating in this funding round were affiliated funds of BDT & MSD Partners, as announced by Skims on Wednesday.
Skims plans to leverage this fresh capital to speed up the growth of its brick-and-mortar presence and international reach, alongside furthering product innovation and broadening its category offerings. Currently, the company operates 18 stores across the U.S. in key cities such as New York, Los Angeles, Austin, and Atlanta, as well as one location in Mexico, with intentions to open additional stores internationally in 2026.
According to Skims, the company is laying the groundwork to evolve into a "predominantly physical business" in the near future, a significant shift for a brand initially known for its digital-first, direct-to-consumer model.
"This milestone reflects continued confidence in our long-term vision and coupled with disciplined execution, positions Skims to unlock its next phase of growth," remarked CEO and co-founder Jens Grede in a statement.
This new funding follows the launch of NikeSkims, a collaboration with Nike launched earlier this year that was sold out within hours. This partnership indicates Skims' ambition to scale beyond its core shapewear products into activewear, apparel, and performance categories, further entering the mainstream athleticwear market dominated by brands like Lululemon, among other upstarts, and Nike itself.
The influx of new capital may postpone a public offering for Skims. The company has been considering going public since at least 2024, based on comments from Grede.
The consumer IPO market has largely slowed in 2024 and 2025, with few fashion or beauty brands entering as investors grow cautious about discretionary retail. By obtaining new private funding, Skims can continue to grow without the immediate need for a public listing.
"Skims stands as a solutions-driven apparel innovator, pioneering new categories and redefining everyday wear," said Beat Cabiallavetta, global head of hybrid capital at Goldman Sachs Alternatives. "We look forward to partnering with management to pursue significant opportunities and deliver disruptive, sustained growth."
Since its inception, Skims has cultivated a devoted fanbase with its inclusive sizing, minimalist design, and high-profile marketing campaigns featuring international athletes and celebrities. Kardashian, who functions as the chief creative officer, described the new funding as "an exciting new chapter" for the company.
"We can't wait to take Skims to the next level as we continue to innovate and set the standard for our industry," said Kardashian.