Skims underwear is displayed on a rack at a Nordstrom store on March 25, 2025 in Corte Madera, California.
Justin Sullivan | fake images
Kim Kardashian's Skims brand has raised $225 million in new funding led by Goldman Sachs Alternatives, valuing the apparel and shapewear company at $5 billion, up from about $4 billion after its 2023 round.
The deal comes as Skims approaches $1 billion in annual net sales, six years after launching in 2019, and marks one of the largest private increases for a U.S. consumer brand this year. Affiliated funds of BDT & MSD Partners also joined the round, Skims said on Wednesday.
Skims plans to use the new capital to accelerate international and physical expansion, as well as product innovation and category diversification. The company has 18 stores in the United States in cities such as New York, Los Angeles, Austin and Atlanta and one in Mexico, with plans to open additional stores abroad in 2026.
Skims said it is laying the groundwork to become a “predominantly brick-and-mortar business” in the coming years, a pivot for a company that built its reputation as a direct-to-consumer digital brand.
“This milestone reflects continued confidence in our long-term vision and, coupled with disciplined execution, positions Skims to unlock its next phase of growth,” CEO and co-founder Jens Grede said in a statement.
The new funding follows the debut of NikeSkims, a partnership with Nike which launched earlier this year and sold out within hours. The collaboration signals Skims' ambitions to scale beyond its core shapewear products and enter sportswear, apparel and performance categories, pushing the brand further into the mainstream sportswear market dominated by lululemona handful of startups and Nike itself.
The new capital injection could further delay an initial public offering for Skims. The company has been considering a public debut since at least 2024, according to Grede.
The consumer IPO market has largely been stagnant in 2024 and 2025, with few fashion or beauty brands debuting as investors become cautious about discretionary retail. By raising new private financing, Skims can continue to grow without immediate pressure to go public.
“Skims stands as a solutions-driven apparel innovator, pioneering new categories and redefining everyday wear,” said Beat Cabiallavetta, global head of hybrid equity at Goldman Sachs Alternatives. “We look forward to partnering with management to pursue significant opportunities and achieve sustained, disruptive growth.”
Since its launch, Skims has gained a cult following with its inclusive sizing, minimalist aesthetic, and high-profile campaigns starring athletes and celebrities around the world. Kardashian, who serves as creative director, said the new financing marks “an exciting new chapter” for the company.
“We are eager to take Skims to the next level as we continue to innovate and set the standard for our industry,” Kardashian said.
