Nov 13, 2025

(DealBook) Kim Kardashian's apparel giant, Skims, has gotten significantly more valuable. The company has raised $225 million in new financing, at a $5 billion valuation. It's the latest sign of success for Skims, which has grown significantly beyond its shapewear and underwear roots -- and signals what lies ahead. The news: The round was led by Goldman Sachs Alternatives, with participation from BDT & MSD Partners. The company, which Kardashian and Jens Grede founded in 2019, is profitable and expected to exceed $1 billion in net sales this year. Skims' previous fundraising round, in 2023, collected $270 million at a $4 billion valuation. Skims will use the new funds to add stores. The brand has 18 locations in cities including New York; Los Angeles; Austin, Texas; Atlanta; and Boca Raton, Florida. It wants to further expand that footprint internationally, starting with emerging markets. “Today's announcement validates the hard work of our incredible team and partners who have helped us reach this exciting new chapter, becoming a global omnichannel retail brand,” Kardashian, the brand's chief creative officer, said. The brand will also continue to expand into new products. That already includes the splashy launch of NikeSkims, a collaboration with Nike that the brands announced in February. The line focuses on women's apparel, with plans to add footwear and accessories. Skims is the official underwear partner of the WNBA, the NBA and USA Basketball. Skims has been laying the groundwork to build up its beauty business. Earlier this year, the brand bought back the 20% stake in Kardashian's beauty business it had sold to Coty. It recently tapped Diarrha N'Diaye, founder of the beauty company Ami Colé, to lead the new venture. Some hints of what that beauty business could look like came in July with the introduction of Skims' $48 Seamless Sculpt Face Wrap. The product gave customers the chance to use the company's “signature sculpting fabric” on their face -- effectively, shapewear for the visage. Goldman Sachs Alternatives and BDT & MSD Partners are new investors in Skims . Previous investors include the asset management firm Wellington Management, Greenoaks Capital Partners, D1 Capital Partners, Imaginary Ventures and Thrive Capital. Beat Cabiallavetta, the global head of hybrid capital at Goldman Sachs Alternatives, said that Skims stood out for “pioneering new categories and redefining everyday wear.” What about a public listing? Speculation about going public has hung around Skims for years. In an interview with WWD late last year, Grede -- who previously told DealBook that the company “deserves” to be a public company -- played down the prospects of an IPO in the near term. “We might make that position in the future, but that's not what I'm thinking about,” he said. This article originally appeared in The New York Times Copyright 2025