Skims, the apparel and shapewear brand co-founded by Kim Kardashian and Jens Grede, has raised $225 million in new funding led by Goldman Sachs Alternatives, which has pushed the company’s valuation to $5 billion. The deal represents one of the most significant private capital raises for a U.S. consumer brand this year, reflecting Skims’ rapid ascent as it approaches $1 billion in annual net sales just six years after its 2019 debut. Funds affiliated with BDT and MSD Partners also joined the round.
The fresh capital arrives as Skims intensifies its transition from a digital-first business into a predominantly physical retail brand. Skims currently operates 18 stores across major U.S. markets, including New York, Los Angeles, Austin, Atlanta, and one location in Mexico. The company plans to open additional international locations in 2026 while continuing to broaden its product portfolio across apparel, activewear, and new performance categories.
The brand is also benefiting from the momentum generated by NikeSkims, the collaboration with Nike that launched earlier this year and sold out within hours. The partnership signals Skims’ ambitions to expand deeper into the athleticwear market, an industry long dominated by Nike, Lululemon, and a growing field of digitally native competitors.
The new investment could delay a potential Skims IPO, which leadership has publicly considered since at least 2024. Consumer IPO activity has remained sluggish through 2024 and 2025, particularly among fashion and beauty brands, prompting companies to seek additional private capital to maintain growth without facing public market headwinds.
Since its launch, Skims has cultivated a loyal following with its emphasis on inclusive sizing, a minimalist aesthetic, and obvious campaigns featuring prominent athletes and celebrities. Kardashian, who serves as chief creative officer, said the financing positions the brand to build on its momentum and accelerate its next stage of evolution.
