Skims Hits $5B Valuation as Goldman Sachs Leads $225M Bet

Kim Kardashian’s Skims has hit a new milestone, closing a $225 million funding round led by Goldman Sachs and pushing the company’s valuation to $5 billion . It marks a sharp rise for the six-year-old brand, which has steadily climbed from a $3.2 billion valuation in 2022 to $4 billion in 2023. The latest round underscores investor confidence in Skims’ ability to evolve from a viral shapewear label into a dominant force in global apparel.

Skims’ ascent has been fueled by rapid revenue growth and a product strategy that now extends well beyond its origins. After generating $750 million in sales in 2023 and turning profitable that same year, the brand has expanded into categories including loungewear, swimwear, and menswear. High-profile partnerships—most notably with the NBA, WNBA, USA Basketball, and a co-designed women’s activewear line with Nike—have further cemented its position in mainstream culture.

The new capital will support an aggressive retail and international expansion plan. Once primarily a DTC business, Skims is now scaling its physical footprint through flagship stores in major U.S. cities such as New York and Los Angeles, with 16 additional stores planned domestically this year. Abroad, the company is laying groundwork in Europe and the Middle East with upcoming stores in London, Dubai, and 15 locations across Israel by 2026.

For Kim KardashianDealroom has a profile for this one. Try Dealroom →, who retains the largest ownership stake, Skims has become the cornerstone of a personal business empire. With a customer base dominated by millennials and Gen Z, the brand is positioning itself at the intersection of celebrity influence, digital culture, and modern retail—offering investors a template for how star-led brands can scale into global, high-growth businesses.

Sources:
Fortune
Reuters
BBC
The Guardian

A.M.