Skims underwear is displayed on a shelf at a Nordstrom store on March 25, 2025 in Corte Madera, California.
Justin Sullivan | Getty Images
Kim Kardashian’s Skims brand raised $225 million in new funding led by Goldman Sachs Alternatives, valuing the shapewear and apparel company at $5 billion, up from about $4 billion after its 2023 cycle.
The deal comes as Skims approaches $1 billion in annual net sales, six years after its 2019 launch, and marks one of the largest private fundraising rounds for a U.S. consumer brand this year. Funds affiliated with BDT and MSD Partners also joined the round, Skims said Wednesday.
Skims plans to use the new capital to accelerate its physical and international expansion, as well as product innovation and category diversification. The company has 18 stores in the United States, including New York, Los Angeles, Austin and Atlanta, as well as one in Mexico, and plans to open additional stores overseas in 2026.
Skims said it is laying the groundwork to become a “predominantly brick-and-mortar company” in the coming years, a pivot for a company that has built its reputation as a digital-first, direct-to-consumer brand.
“This milestone reflects continued confidence in our long-term vision and, coupled with disciplined execution, positions Skims to unlock its next phase of growth,” CEO and co-founder Jens Grede said in a statement.
The new funding follows the debut of NikeSkims, a partnership with Nike which launched earlier this year and sold out within hours. The collaboration demonstrates Skims’ ambitions to move beyond its core shapewear products and into the sportswear, apparel and performance categories, pushing the brand further into the traditional sportswear market dominated by Lululemona handful of newcomers and Nike itself.
The new capital infusion could further delay a Skims IPO. The company has been planning a public debut since at least 2024, based on Grede’s statements.
The consumer IPO market has been largely stagnant in 2024 and 2025, with few fashion or beauty brands debuting as investors become cautious about discretionary retail. By raising new private funding, Skims can continue to grow without immediate pressure to list.
“Skims presents itself as a solutions-focused apparel innovator, pioneering new categories and redefining everyday apparel,” said Beat Cabiallavetta, global head of hybrid capital at Goldman Sachs Alternatives. “We look forward to collaborating with management to capture significant opportunities and drive disruptive and sustainable growth.”
Since its launch, Skims has built a cult following thanks to its inclusive sizing, minimalist aesthetic, and high-profile campaigns featuring athletes and celebrities from around the world. Kardashian, who serves as chief creative officer, said the new funding marks “an exciting new chapter” for the company.
“We look forward to taking Skims to the next level while continuing to innovate and set the standard for our industry,” Kardashian said.