Skims is set to integrate beauty into its lifestyle offerings after acquiring Coty’s 20% stake in Skkn by Kim, the beauty brand founded by Kim Kardashian.
The deal marks a significant expansion for the shapewear company, allowing Skims to consolidate its business under one unified brand, though financial terms were not disclosed.
Kardashian, who serves as Skims’ chief creative officer and co-founder, emphasized the strategic nature of the acquisition.
“My mission has always been to create products that resonate deeply – whether it’s shapewear and lingerie that empowers or make-up and skincare that transforms,” she said in a statement.
“Uniting everything under the Skims brand streamlines that vision.”
Coty originally partnered with Kardashian in 2020, acquiring its 20% stake in Skkn by Kim the following year for $200 million.
The investment was intended to accelerate the brand’s global expansion, but Coty’s decision to divest now enables Skims to take full ownership of its beauty business.
With the acquisition, Skims is set to expand into skincare, cosmetics, and fragrance, broadening its product range beyond apparel.
Meanwhile, Coty will use the proceeds to advance its deleveraging strategy and invest further in its portfolio.
Coty continues to hold partnerships with high-profile brands, including Adidas, Vera Wang, Calvin Klein.
It also retains a connection to the Kardashian family through its majority stake and perpetual license in Kylie Jenner’s beauty lines, Kylie Skin, Kylie Cosmetics, and Kylie Baby.
“Kim has been a great partner, and we look forward to continuing our success with Kylie Cosmetics, which we have grown by 1.5x in the last two years,” said Anna von Bayern, CEO of Kylie Cosmetics and head of Kardashian’s beauty business at Coty.
Founded in 2019, Skims has rapidly expanded its market presence. By 2023, the brand secured $270 million in Series C funding, pushing its valuation to $4 billion.
The company has since broadened its retail footprint, opening its first permanent store in Washington, D.C., with plans for additional locations in New York and Los Angeles.
This announcement follows Skims’ recent string of high-profile collaborations, including a newly unveiled partnership with Nike to introduce NikeSkims, a collection of apparel, footwear, and accessories.
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