Skims Takes Bold Step Forward: Launches First Middle East Flagship in Dubai

Skims is accelerating down the home stretch of the year. The intimate apparel brand, valued at $5 billion in its latest round of funding and founded by Kim Kardashian, yesterday raised the shutter on its first franchise flagship store in the Middle East, located in the Mall of Emirates Dubai. Under local operator Al Tayer Insignia, the store marks the first standalone outlet in the region.

“Dubai sets the standard for luxury retail, so it was important for this space to showcase Skims’ signature design,“ said Kim Kardashian, the brand’s founder and creative director since 2018.

Curved openings, sculptural shapes and reflective surfaces softened with warm lighting make up the interior of Skims’ new flagship store, which brings together the brand’s most iconic collections, as well as Skims’ best-selling products.

Skims’ partner in the Middle East, Al Tayer Insignia, also operates other companies such as Harvey Nchols, Coach and Kurt Geiger in the region.

Skims will land in London next year with a flagship store in Regent Steet

Skims reached, last November, a new milestone in its trajectory, registering a valuation of $5 billion after closing a new funding round of $225 million. The financing transaction was led by Goldman Sachs Alternatives and also involved affiliated funds BDT and MSD Partners.

Last March, Skims acquired 20% of the capital of the cosmetics brand Skkn by Kim, reaching 100% of the shareholding of the brand launched by the celebrity together with Coty. With this move, Skims now also includes Skkn’s business.

Looking ahead to next year, the company is preparing the opening of another flagship store for 2026, which will land in the London neighborhood of Regent Street and will be located in the space formerly occupied by the British fashion brand Ted Baker.

In 2023, Skims reached a valuation of $4 billion after closing a Series C funding round led by Wellington Management, which raised $270 million and included funding from Greenoaks Capital Partners and its current partners, D1 Capital Partners and Imaginary Ventures. Kim Kardashian remains the company’s largest shareholder alongside Grede.