Kim Kardashian's clothing brand Skims has raised $5 billion in a new funding round as it prepares to expand its store network and launch new product lines. The $225 million round was led by Goldman Sachs Alternatives, joined by funds associated with BDT & MSD Partners. This was reported by Bloomberg, writes UNN.
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The company expects net sales to exceed $1 billion in 2025.
Today's announcement validates the hard work of our incredible team and partners who have helped us embark on this exciting new chapter of becoming a global omnichannel retail brand.
Skims is moving beyond shapewear and underwear, having launched a joint NikeSkims brand for activewear this year. The company plans to gradually transition from online sales to primarily physical stores: it currently has 20 stores in the US and Mexico. A previous 2023 round valued Skims at $4 billion.