Kim Kardashian’s shapewear empire just hit another major milestone — her company Skims is now valued at a staggering $5 billion after raising $225 million in new funding to fuel global expansion.
According to the New York Post, the latest fundraising round, led by Goldman Sachs Alternatives along with BDT & MSD Partners, boosts the company’s worth by $1 billion since 2023, when it was last valued at $4 billion.
Founded in 2019 by Kardashian and business partner Jens Grede, Skims has rapidly evolved from a lingerie brand into a full-fledged apparel powerhouse.
The company is expected to surpass $1 billion in sales this year, fueled by new product lines that go well beyond shapewear — including trendy, sometimes eyebrow-raising items such as thongs with fake pubic hair, bras with built-in faux nipples, and facial shapewear wraps.
“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 said in a statement.
The company plans to use the new funding to expand its physical presence, opening additional stores in major international markets. Skims currently operates 18 storefronts across the U.S. in cities such as New York, Los Angeles, Austin, Atlanta, and Boca Raton, Florida.
Skims has also made a name for itself in the sports world, serving as the official underwear partner for the NBA, WNBA, and USA Basketball. A highly anticipated collaboration with Nike, called NikeSkims, is set to debut soon and will feature “sport-ready shapewear,” including fitted jackets, leggings, and sports bras.
Beyond apparel, Kardashian appears to be eyeing a renewed push into beauty. Earlier this year, Skims bought back the 20% stake it previously sold in Kardashian’s beauty brand to Coty and recently hired Diarrha N’Diaye — founder of Ami Colé and former Glossier executive — to lead its beauty and fragrance division.
The company’s recent launch of the $48 Seamless Sculpt Face Wrap, which promises “targeted compression for shaping & sculpting,” hints at potential expansion into beauty and skincare tools.
Investors like Wellington Management, D1 Capital Partners, Thrive Capital, and Imaginary Ventures have all backed the brand, which some speculate could go public in the near future. However, co-founder Grede has downplayed those rumors for now.
“We might make that position in the future, but that’s not what I’m thinking about,” he told WWD last year.
