The financing round was led by Goldman Sachs Alternatives with participation from affiliated funds of BDT & MSD Partners. SKIMS plans to use the proceeds from the investment to continue driving its physical retail and international expansion efforts. SKIMS now has 18 owned retail stores in the U.S. and two franchises in Mexico and is laying the foundation to become a predominantly brick-and-mortar business in the coming years. The company will also use this capital infusion to invest in product innovation and category expansion, solidifying the company's strong position within intimate and shapewear while further expanding its presence in apparel and sportswear. The recent launch of the NikeSKIMS brand by SKIMS, in partnership with Nike Inc., exemplifies the company's commitment to pushing boundaries and delivering industry-leading innovation.
Skims has raised $225 million in new financing led by Goldman Sachs Alternatives, valuing the brand at $5 billion. The investment will accelerate global retail expansion, product innovation and category growth. With 20 stores in the U.S. and Mexico and strong momentum from the launch of NikeSkims, the company is on track to surpass $1 billion in net sales in 2025, just six years after its debut.
The brand is expected to surpass $1 billion in net sales in 2025, just six years after its creation.
“This milestone reflects continued confidence in our long-term vision and, coupled with disciplined execution, positions SKIMS to unlock its next phase of growth,” he said. Jens Grede, co-founder and CEO of SKIMS.
“SKIMS stands out as a solutions-driven apparel innovator, pioneering new categories and redefining everyday wear. We look forward to partnering with management to pursue significant opportunities and deliver sustained, disruptive growth,” he said Beat Cabiallavetta, Global Head of Hybrid Capital at Goldman Sachs Alternatives.
“Today's announcement validates the hard work of our incredible team and partners who have helped us reach this exciting new chapter, becoming a global omnichannel retail brand. We look forward to taking SKIMS to the next level as we continue to innovate and set the standard for our industry,” he said. Kim Kardashian, co-founder and creative director of SKIMS.
“We are pleased to support SKIMS in its continued growth and success, and to partner with founders who combine creativity with strong business leadership. Our investment reflects BDT & MSD's commitment to supporting exceptional entrepreneurs who build lasting and innovative brands,” he said Greg Olafson, President and Co-Chief Investment Officer, BDT and MSD.
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Fiber2Fashion News Desk (RM)
