Kim Kardashian’s Skims Reportedly Raises Fresh Capital, Bags $5 Billion Valuation

• According to a Reuters report, Skims expects to exceed $1 billion in net sales by 2025.
• In February, Nike and Skims announced their partnership to launch a new activewear brand for women, aiming to capitalize on and build demand from female consumers in the segment.
• In March, Coty said it was closing the sale of its 20% stake in the SKKN by Kim brand to SKIMS.

Shapewear brand Skims, co-founded by Kim Kardashian, has reportedly raised fresh capital, valuing the company at $5 billion, at a time when demand for its apparel has seen a strong surge, primarily in the United States.

According to a Reuters News report, the $225 million round was led by investment firm Goldman Sachs Alternatives and participation from funds affiliated with BDT & MSD Partners. The report noted that Skims anticipates exceeding $1 billion in net sales by 2025.

"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 Co-Founder and CEO Jens Grede.

SKNN By Kim

In March, Coty Inc. (COTY) announced the conclusion of its partnership with Kim Kardashian and skincare and makeup brand SKKN by Kim. The company said it was closing the sale of its 20% stake in the SKKN by Kim brand to SKIMS.

It was then announced that following the transaction, Skims will unite its beauty and lifestyle ventures under one brand. This partnership was an attempt by Skims to expand into beauty, skincare, and fragrance, building on Kardashian's portfolio and enhancing Skims’ global and retail direct-to-consumer footprint.

Skims And Nike Partnership

In February, Nike and Skims announced their partnership to launch a new activewear brand for women, aiming to capitalize on and build demand from female consumers in the segment.

Nike’s new CEO, Elliott Hill, has attempted to strengthen partnerships with wholesalers and establish new partnerships with companies like Skims to revitalize the sportswear giant’s fortunes after several quarters of weakness.

In September, both companies announced the first “NikeSKIMS” product line, which debuted with seven collections and 58 silhouettes.

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