SKIMS has reached new heights.
Launched in 2019, the shapewear brand was created by Kim Kardashian, who teamed up with Emma Grede (chief creative officer) and her husband, Jens (chief executive officer), according to Forbes. Emma previously launched Good American in 2016, a venture in partnership with Khloé Kardashian, per the company website.
SKIMS, which began as an online, direct-to-consumer brand, has expanded to 20 retail locations across the U.S. and Mexico, notes Forbes. The brand’s offerings have also grown beyond shapewear to include t-shirts, pajamas, jackets, and men’s hoodies.
SKIMS’ success continues to be proven by the numbers with a $4 billion valuation following a 2023 raise, Forbes mentioned. Fast forward to 2025, the brand secured $225 million in a new round, boosting its valuation to $5 billion, Forbes reports. Goldman Sachs Alternatives led the round with participation from Byron Trott’s BDT & MSD Partners.
The Gredes have added $150 million to their fortune as they hold just under 14% stake, the outlet notes.
The funding is intended to support its transition to becoming a “predominantly physical business” in the near future, per Forbes. It will also help with the launch of new products.
SKIMS is currently on track to reach $1 billion in net sales in 2025, which is a $750 million increase from their last raise.
“We can’t wait to take SKIMS to the next level as we continue to innovate and set the standard for our industry,” Kim said in a press release, according to Forbes.
Jens commented:
“This milestone reflects continued confidence in our long-term vision and coupled with disciplined execution, positions SKIMS to unlock its next phase of growth.”
SKIMS’ next phase includes its foray into beauty and fragrance. Diarrha N’Diaye-Mbaye has been hired as its executive vice president of beauty and fragrance, as AFROTECH™ previously reported. N’Diaye-Mbaye brings experience at Glossier and L’Oréal and is the founder of Ami Colé, a beauty company she later closed.
“For the past 15 years I spent countless hours listening to the beauty exchange on salon floors, selling fragrance at my local Sephora, working corporate and most recently building Ami Colé brick by brick — I am simply obsessed. It’s an honor to bring that product and community obsession to the global stage where the sky truly is the limit and inclusivity is simply tablestakes,” N’Diaye-Mbaye said in a LinkedIn post.
