THE WHAT? Skims has raised US$225 million in new funding, pushing the attire and shapewear firm to a US$5 billion valuation because it accelerates class enlargement and worldwide development.
THE DETAILS The most recent spherical was led by Goldman Sachs Alternate options, with participation from BDT & MSD Companions’ affiliated funds, including to an present investor base that features Thrive Capital and Greenoaks. Based in 2019 by Kim Kardashian and Jens Grede, Skims plans to deploy the capital towards broadening its intimates, shapewear, attire and activewear traces whereas increasing its international retail footprint. The corporate now operates 18 U.S. shops and two franchised areas in Mexico and is positioning itself for a extra bodily retail-led mannequin within the coming years. Skims is on monitor to exceed US$1 billion in web gross sales in 2025, supported by collaborations akin to its Nike activewear partnership and elevated integration with Kardashian’s magnificence ventures following Coty’s sale of a 20% SKKN stake to the corporate. Investor sentiment has strengthened across the model’s long-term potential, with analysts noting the funding spherical additional establishes Skims as a reputable future IPO candidate.
THE WHY? The funding displays continued market urge for food for celebrity-driven manufacturers with sturdy client engagement, in addition to ongoing consolidation between attire, magnificence, and life-style classes.
Supply: Reuters
