On November 12, 2025, SKIMS, the shapewear and loungewear label co-founded by Kim Kardashian and Jens Grede, announced the successful completion of a US$225 million capital raise, valuing the company at US$5 billion. The financing round, led by Goldman Sachs Alternatives with participation from BDT & MSD Partners’ affiliated funds, marks a defining moment not only for SKIMS but also for the broader celebrity-founded fashion sector.
This milestone is significant: in just six years, SKIMS has grown from a nascent DTC shapewear label to a multi-category, global apparel brand with the scale, sophistication, and financial backing typical of legacy fashion houses. Unlike many celebrity ventures that capitalise on fleeting trends, SKIMS has demonstrated both product innovation and strategic execution, validating investor confidence and setting new benchmarks for the industry.
“This milestone reflects continued confidence in our long-term vision and coupled with disciplined execution, positions SKIMS to unlock its next phase of growth,” said Jens Grede, Co-founder and Chief Executive Officer, SKIMS, in a press release.
“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 can’t wait to take SKIMS to the next level as we continue to innovate and set the standard for our industry,” said Kim Kardashian, Co-founder and Chief Creative Officer, SKIMS, in the same release. “SKIMS stands 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 disruptive, sustained growth,” added Beat Cabiallavetta, Global Head of Hybrid Capital at Goldman Sachs Alternatives.
Growth Through Product Innovation and Strategic Partnerships
From the outset, SKIMS has positioned itself as a solutions-driven apparel innovator. The brand offers technically engineered shapewear designed to enhance natural curves, underwear that stretches to twice its size, and a range of loungewear that blends comfort with style. Its inclusivity – offering sizes from US 0 to 24 and shades spanning every skin tone – sets it apart from traditional intimates and fashion categories, a positioning that has resonated deeply with a millennial and Gen Z audience, which now accounts for roughly 70% of SKIMS’ customers.
The brand has expanded beyond shapewear into apparel, activewear, and intimate loungewear, often through high-profile collaborations. The launch of NikeSKIMS, a joint venture with Nike Inc., exemplifies this approach, offering engineered activewear that is both performance-oriented and body-conscious – a combination that differentiates SKIMS from competitors like Lululemon, Alo Yoga, and Spanx.
While brands like Lululemon and Alo Yoga have set the standard for activewear and athleisure – Lululemon with a US$55 billion valuation and Alo generating roughly US$1 billion in annual revenue – SKIMS has distinguished itself by combining technical innovation with a body-conscious, inclusive approach. In just six years, SKIMS has grown into a US$5 billion brand, offering shapewear, loungewear, and activewear that celebrates all sizes and skin tones. Where Lululemon excels in performance-led design and Alo in influencer-driven style, SKIMS bridges fashion and functionality, appealing to a younger, diverse audience seeking both comfort and empowerment. Even Spanx, once the shapewear category leader with a reported US$1.2 billion valuation, has adapted its approach as SKIMS continues to set new benchmarks for inclusivity, innovation, and cultural relevance – showing that the brand isn’t just competing; it’s shaping the future of apparel.
Celebrity partnerships, including collaborations with Sabrina Carpenter and Lana Del Rey, have further amplified the brand’s cultural visibility, translating attention into measurable commercial traction.
Financial Trajectory and Market Impact
Crunching the numbers illustrates the scale of SKIMS’ ascent. In 2023, the company generated an estimated US$750 million in revenue, a 50% increase from 2022, according to market analyst Sacra. Its valuation rose to US$4 billion by May 2024, up from US$3.2 billion in 2022.
High customer retention rates – 14% within 15 months of first purchase – underscore the loyalty SKIMS inspires, while the company’s ability to capture the attention of younger demographics suggests long-term revenue sustainability. With 18 company-owned stores in the United States and two franchise doors in Mexico, SKIMS is strategically positioning itself as an omnichannel business, aiming to blend the strengths of direct-to-consumer operations with a robust physical retail presence.
The brand is projected to exceed US$1 billion in net sales in 2025, giving it a forward revenue multiple of roughly 5 times its US$5 billion valuation – a figure that underscores investor confidence in both its growth potential and high gross margins. SKIMS’ digital platform, skims.com, generated approximately US$527 million in gross merchandise value in 2024, while its high customer retention rates and DTC-first model keep acquisition costs lower than traditional intimates brands, giving the company a robust financial foundation as it scales globally.
Globally, SKIMS is well-positioned within a shapewear market estimated at US$2.73 billion in 2024, projected to reach US$4.32 billion by 2030 at a CAGR of ~8%, with the Asia-Pacific region accounting for roughly 26% of the market and representing the fastest-growing geography. The brand has strategically expanded internationally, with ~10% of its customer base in Asia, partnerships with luxury retailer Lane Crawford, and a 2024 pop-up in Chengdu showcasing curated loungewear and limited-edition products. With category expansion into activewear via NikeSKIMS, plans for menswear, and a potential move into beauty and fragrance supported by the recent appointment of Diarrha N’Diaye as EVP Beauty & Fragrance, SKIMS is both diversifying its portfolio and positioning itself to capture a broader share of the global apparel market. Execution risks remain, particularly around physical retail margins and sustaining brand authenticity during rapid growth, but the data suggest that SKIMS has the operational infrastructure and consumer loyalty to justify its multibillion-dollar valuation.
Navigating Celebrity Venture Challenges
SKIMS’ meteoric rise is part of a much larger movement redefining what a celebrity brand can be. Where once such ventures were dismissed as vanity projects or fleeting hype, figures like Rihanna, Hailey Bieber, Kylie Jenner, and Selena Gomez have turned personal platforms into global powerhouses. Rihanna’s collaboration with LVMH – first through Fenty Beauty in 2017 and later with the short-lived Fenty fashion house – signalled luxury’s willingness to trade on pop-culture credibility, even as its pause revealed the complexities of translating celebrity into couture. Kylie Jenner’s Kylie Cosmetics, meanwhile, set the modern precedent: her 2019 deal with Coty, valuing the brand at US$1.2 billion, proved the financial might of influencer-led beauty, even if sustaining that early hype has proved challenging. Hailey Bieber’s Rhode followed a leaner, digitally native path, reaching a staggering US$1 billion valuation in just three years before being acquired by E.l.f. Beauty in 2025. And Selena Gomez’s Rare Beauty, now worth an estimated US$2.7 billion, has built its success on authenticity and emotional connection, showing that purpose-driven storytelling can rival even the strongest marketing spend. Together, these brands represent a new chapter in modern luxury – where celebrity is less about endorsement than entrepreneurship, and cultural influence is leveraged with boardroom precision. For SKIMS, the lesson is clear: the most enduring celebrity brands are those that pair fame with formidable business acumen.
Yet, not all survive the long term. SKIMS distinguishes itself through a combination of brand authenticity, rigorous execution, and operational discipline, avoiding the pitfalls of many celebrity ventures that rely solely on fame.
SKIMS has not been without controversy. Initially named Kimono Intimates, the brand faced widespread criticism, prompting a rebranding that reinforced cultural sensitivity. Some product launches – such as nipple bras, thong leggings, and face wraps – were viewed by critics as dystopian interpretations of women’s beauty standards. Yet, rather than hindering growth, these bold moves have positioned SKIMS as a conversation-driving innovator, cementing its status as a brand willing to challenge norms while scaling commercially.
SKIMS in Asia
SKIMS has global ambitions. The brand launched in Asia in November 2021 through a partnership with luxury retailer Lane Crawford, offering over 100 styles in stores and online.
In January 2024, SKIMS opened its first pop-up store in Mainland China at the Chengdu International Financial Center, themed around Valentine’s Day and featuring a curated selection of intimates, loungewear, and limited-edition gift sets. “At Lane Crawford, we saw the introduction of SKIMS to the Greater China market as a compelling opportunity, even though it represents a different category and price point from our usual offerings,” Blondie Tsang, President of Lane Crawford Joyce Group, previously told BurdaLuxury. “SKIMS offers a unique blend of aesthetics and functionality that is unparalleled in the market, and is committed to offering high-quality products, quality not always associated with celebrity-led brands. Its inclusive approach, celebrating all shapes, sizes, and shades, aligns with our values and resonates with our diverse customer base. Additionally, SKIMS’ enthusiasm to collaborate with us on an exclusive basis further solidified our decision to bring this exciting brand to our customers.”
This measured expansion into Asia is indicative of a strategic approach to international growth, blending targeted retail partnerships with omnichannel accessibility, ensuring that brand integrity is maintained while scaling globally.
BurdaLuxury’s Lens
As SKIMS continues to expand into new categories – including activewear, menswear, and potentially beauty or lifestyle – the brand faces both opportunity and scrutiny. Execution risk, especially around international retail rollouts and category diversification, remains a factor. But with an established direct-to-consumer foundation, high customer loyalty, and strategic partnerships, SKIMS appears poised to maintain its momentum.
In a fashion landscape crowded with celebrity-backed ventures, SKIMS’ trajectory offers a blueprint for sustainable growth: combine product authenticity, operational discipline, and strategic omnichannel expansion to transform celebrity cachet into enduring market dominance.
SKIMS is now more than a celebrity vanity project – it is a global apparel powerhouse, demonstrating how strategic growth, data-driven marketing, and product-led innovation can elevate a brand from niche disruptor to industry leader. The US$5 billion valuation is not just a financial headline; it is a marker of SKIMS’ arrival in the upper echelons of fashion business, with the scale, sophistication, and ambition to compete with the world’s most established brands.
