Skims hits $5 billion valuation after funding spherical led by Goldman

Kim Kardashian’s Skims model has raised $225 million in new funding led by Goldman Sachs Alternate options, valuing the shapewear and attire firm at $5 billion — up from roughly $4 billion after its 2023 spherical.

The deal comes as Skims nears $1 billion in annual web gross sales, six years after its 2019 launch, and marks one of many largest non-public raises for a U.S. shopper model this yr. BDT & MSD Companions’ affiliated funds additionally joined the spherical, Skims stated Wednesday.

Skims plans to make use of the brand new capital to speed up brick-and-mortar and worldwide growth, in addition to product innovation and class diversification. The corporate has 18 shops throughout the U.S. in cities together with New York, Los Angeles, Austin and Atlanta and one in Mexico, with plans to open further shops abroad in 2026.

Skims stated it is laying the groundwork to change into a “predominantly bodily enterprise” within the coming years, a pivot for a corporation that constructed its popularity as a digital-first direct-to-consumer model.

“This milestone displays continued confidence in our long-term imaginative and prescient and matched with disciplined execution, positions Skims to unlock its subsequent section of progress,” CEO and co-founder Jens Grede stated in a press release.

The brand new funding follows the debut of NikeSkims, a partnership with Nike that launched earlier this yr and bought out inside hours. The collaboration alerts Skims’ ambitions to scale past its core shapewear merchandise and into activewear, attire and efficiency classes, pushing the model additional into the mainstream athleticwear market dominated by Lululemon, a handful of upstarts and Nike itself.

The brand new capital infusion may additional delay an IPO from Skims. The corporate has been eyeing a public debut since at the very least 2024, based mostly on statements by Grede.

The patron IPO market has been largely stagnant in 2024 and 2025, with few vogue or magnificence manufacturers debuting as traders flip cautious on discretionary retail. By elevating new non-public funding, Skims can proceed to scale with out quick strain to record.

“Skims stands as a solutions-driven attire innovator, pioneering new classes and redefining on a regular basis put on,” stated Beat Cabiallavetta, international head of hybrid capital at Goldman Sachs Alternate options. “We stay up for partnering with administration to pursue important alternatives and ship disruptive, sustained progress.”

Since its launch, Skims has constructed a cult following with its inclusive sizing, minimalist aesthetic and high-profile campaigns that includes international athletes and celebrities. Kardashian, who serves as chief inventive officer, stated the brand new funding marks “an thrilling new chapter” for the corporate.

“We will not wait to take Skims to the subsequent degree as we proceed to innovate and set the usual for our business,” Kardashian stated.