Kim Kardashian’s shapewear and lifestyle brand Skims has secured $225 million in new funding, led by Goldman Sachs Alternatives, pushing its valuation to $5 billion, up from around $4 billion following its 2023 raise.
The deal comes as Skims approaches $1 billion in annual net sales, just six years after its 2019 debut, marking one of the largest private raises for a U.S. consumer brand this year.
BDT & MSD Partners’ affiliated funds also joined the round, which will help fuel brick-and-mortar expansion, international growth, and product innovation.
Skims currently operates 18 U.S. stores, in cities including New York, Los Angeles, Austin and Atlanta, plus one in Mexico, with overseas openings planned for 2026.
The company said it’s laying the groundwork to become a “predominantly physical business,” shifting away from its digital-first roots.
“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 Jens Grede, co-founder and CEO.
The raise follows the success of NikeSkims, a collaboration with Nike that launched earlier this year and sold out within hours.
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The partnership underscores Skims’ push beyond shapewear into activewear and performance apparel, bringing it into closer competition with Lululemon and Nike.
The new capital could also delay a potential IPO, which Skims has been considering since at least 2024.
With investor caution weighing on the consumer IPO market, the company’s decision to raise privately gives it more room to scale without immediate public market pressure.
“Skims stands as a solutions-driven apparel innovator, pioneering new categories and redefining everyday wear,” said Beat Cabiallavetta, global head of hybrid capital at Goldman Sachs Alternatives. “We look forward to partnering with management to pursue significant opportunities and deliver disruptive, sustained growth.”
Since launching, Skims has built a cult following with its inclusive sizing, minimalist aesthetic, and high-profile campaigns featuring global athletes and celebrities.
“We can’t wait to take Skims to the next level as we continue to innovate and set the standard for our industry,” said Kim Kardashian, co-founder and chief creative officer. “This marks an exciting new chapter for the company.”
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