Kim Kardashian’s shapewear brand, Skims, has raised $225 million in a new funding round led by Goldman Sachs Alternatives, pushing its valuation to a massive $5 billion. Co-founded in 2019 with CEO Jens Grede, Skims has quickly evolved from a direct-to-consumer shapewear brand into one of fashion’s most influential modern labels.
From viral brand to global fashion force
Built on a foundation of inclusivity and strong digital branding, Skims has leveraged Kardashian’s unparalleled social media reach to build a loyal, global following. The company is now on track to exceed $1 billion in net sales by 2025, driven by the popularity of its intimates, shapewear, and apparel lines.
With the fresh capital, Skims plans to expand into activewear and apparel, strengthen its retail footprint, and accelerate international growth. The company currently runs 18 stores in the U.S. and two franchise outlets in Mexico, with ambitions to become a predominantly physical retail brand over the coming years.
Celebrity-backed brands fueling fashion’s next wave
Kardashian’s business success mirrors a broader trend: the rise of celebrity-led beauty and fashion ventures drawing strong investor interest. Brands like Hailey Bieber’s Rhode, recently acquired by e.l.f. Beauty for $1 billion, and Rihanna’s Fenty Beauty have proven that star power and social reach can build profitable, scalable businesses.
Skims’ latest valuation now places it ahead of legacy players Victoria’s Secret ($2.86B) and Under Armour ($1.98B) combined, underscoring the shift in consumer preference toward newer, digitally-native, and values-driven brands.
A billion-dollar brand with bigger ambitions
The company has also partnered with Nike to launch a women’s activewear collection, its first major move into performance apparel. Meanwhile, Kardashian’s net worth has surged to $1.9 billion, with the new deal adding another $200 million to her fortune.
While CEO Jens Grede has hinted that Skims “deserves” to be a public company, he emphasised that an IPO isn’t on the immediate horizon. For now, Skims’ focus remains clear: building a fashion empire that blends inclusivity, innovation, and global scale, proving that the Kardashian business playbook is more powerful than ever.
“We can’t wait to take Skims to the next level as we continue to innovate and set the standard for our industry,” Kardashian, who serves as chief creative officer, said in Wednesday’s press release.
“This milestone reflects continued confidence in our long-term vision and, coupled with disciplined execution, positions Skims to unlock its next phase of growth,” Grede said in a statement.
