Skims Hits $5 Billion Valuation in $225 Million Funding

Skims, the apparel brand co-founded by Kim Kardashian and Jens Grede, has reached a valuation of $5 billion following a $225 million funding round led by Goldman Sachs Alternatives. The investment, one of the largest for a U.S. consumer brand this year, closed last week and will support the company's expansion into physical retail and international markets.

The capital raise builds on Skims' previous valuation of $4 billion, set in 2023 after a $270 million round. Since its launch in 2019, the brand has grown from a direct-to-consumer shapewear startup into a lifestyle label offering loungewear, activewear, underwear, swimwear and menswear. It projects net sales exceeding $1 billion in 2025, up from $750 million in 2023 and more than $1 billion in 2024. Kardashian, who serves as chief creative officer, holds an estimated one-third stake in the company, contributing to her personal net worth of around $1.9 billion.

The funding will accelerate Skims' brick-and-mortar strategy, which began with its first permanent store in Washington, D.C., in 2024 after initial pop-up locations in cities like New York and Los Angeles. The brand now operates 18 stores across the U.S., including...