Kim Kardashian’s Skims is now worth $5 billion after a massive $225 million funding round led by Goldman Sachs

Core Insights - Skims has secured $225 million in funding led by Goldman Sachs Alternatives, raising its valuation to $5 billion [1] - The company was previously valued at $4 billion in July 2023 and $3.2 billion in January 2022 [2] - Skims reported $750 million in sales for 2023, a significant increase from $500 million in 2022, and became profitable with nearly $713 million in net sales [3] Company Overview - Founded in 2019, Skims started as a shapewear brand focused on body positivity and inclusive sizing, expanding into loungewear, swimwear, and menswear [4] - The brand has established partnerships with the NBA, WNBA, and USA Basketball, and collaborated with Nike to launch a women's activewear line [4] Retail Expansion - Skims is aggressively expanding its retail presence, opening its first permanent store in Georgetown in 2024, with plans for 16 new U.S. stores this year [5] - The company is also expanding internationally, with plans for standalone stores in London and Dubai by mid-2026, and 15 stores in Israel by 2026 [6] Ownership and Demographics - Kim Kardashian retains the largest ownership stake in Skims, estimated at 35%, contributing to her net worth of $1.7 billion [7] - Nearly 70% of Skims' customers are millennials or Gen Z consumers [7]