Skims Hits $5 Billion Mark Following $255 Million Funding Round with Goldman Sachs

Skims, the intimate apparel company founded by Kim Kardashian, reaches a new milestone in its trajectory. The U.S. company has reached a valuation of $5 billion after closing a new funding round of $225 million, the company said Wednesday.

The new financing transaction was led by Goldman Sachs Alternatives and also involved affiliated funds BDT and MSD Partners. “This new milestone reflects confidence in our long-term vision and disciplined execution, while positioning Skims to launch its next phase of growth,“ said Jens Grede, CEO and co-founder of the company.

Last March, Skims took a 20% stake in the cosmetics brand Skkn by Kim, bringing it to 100% ownership of the brand launched by the celebrity with Coty. With this move, Skims now also includes the Skkn business.

Skims has indicated that in 2025 it will exceed one billion dollars in sales

In 2023, Skims reached a valuation of $4 billion after closing a funding round led by Wellington Management, in which it raised $270 million. The deal also involved funds Greenoaks Capital Partners and some of its existing partners, such as D1 Capital Partners and Imaginary Ventures. Kim Kardashian remained the company’s largest shareholder alongside Grede.

The company, which has indicated that by 2025 it will exceed $1 billion in sales, plans to use the resources raised to expand its intimate apparel and shapewear lines, as well as enter new categories and expand its store network and international presence.

Skims, founded in 2018, currently has a network of eighteen stores in the United States and two franchises in Mexico. The company’s plan is to increase its retail activity to become a predominantly physical operator in the coming years. The company opened its first physical store at the end of 2024.