Core Insights - Skims, founded by Kim Kardashian, has raised $225 million in a new funding round, increasing its valuation to $5 billion, surpassing Victoria's Secret's market value of $2.9 billion [1][4] Group 1: Brand Growth and Market Positioning - Skims was established in 2019 and quickly gained market traction with its inclusive sizing, diverse skin tone products, and minimalist aesthetic, selling nearly 100,000 units of its first shapewear within two minutes of launch [2][4] - The brand has successfully partnered with the NBA and WNBA as their first official lingerie partner, leveraging key events and social media to enhance brand visibility and expand into the male consumer market [2][3] Group 2: Financial Performance and Valuation - Skims has seen rapid valuation growth, from $1.6 billion in 2021 to $5 billion in 2023, supported by a revenue increase from $145 million in 2020 to $750 million in 2023, reflecting a compound annual growth rate of 73% [4][5] - The latest funding round was led by Goldman Sachs, bringing the total funding raised to over $889 million, establishing Skims as a benchmark in the consumer goods sector [4][5] Group 3: Strategic Partnerships and Product Expansion - In February 2025, Skims will launch a sub-brand, NikeSKIMS, in collaboration with Nike, focusing on women's activewear, with predictions of a $1 billion market potential [3][4] - The funding will primarily be used to expand retail networks, drive international growth, and develop new product categories, with plans to open 16 new stores in the U.S. by 2025 and enter European and Middle Eastern markets by 2026 [6][7] Group 4: Challenges and Market Strategy - Despite strong global performance, Skims has not yet entered the Chinese market, facing challenges related to local consumer preferences and intense competition from established brands [7] - The company is adopting a cautious expansion strategy, emphasizing thorough market research and localization before entering the Chinese market, with a focus on strengthening retail and international business growth [7]

Core Viewpoint - Emma Grede, co-founder of Skims and CEO of Good American, emphasizes the importance of understanding and utilizing artificial intelligence (AI) in business, highlighting her journey from using AI merely as a search engine to recognizing its potential for strategic decision-making [2][3][8]. Group 1: Background and Achievements - Emma Grede is a self-made millionaire and a prominent entrepreneur known for her role in the $4 billion shapewear brand Skims and the successful denim brand Good American, which generated $1 million in sales on its first day [2]. - Grede has redefined inclusivity in retail and became the first Black female investor on "Shark Tank" [2]. Group 2: AI Utilization and Learning - Grede initially relied on her employees to use AI tools, treating them as search engines, but recognized the need to enhance her own understanding of AI after discussions with Mark Cuban [3][5]. - She has started exploring AI courses at Wharton and Harvard to improve her skills, acknowledging that her previous approach to AI was limited [3][4]. Group 3: Impact of AI on Business - Grede implemented cash rewards for employees using AI, which significantly changed the office atmosphere and work methods, particularly among marketing and finance teams [4][5]. - Despite her high efficiency, Grede believes AI can help optimize decision-making processes rather than just increase productivity [7][8]. Group 4: Industry Perspective - Mark Cuban warns entrepreneurs about the necessity of adopting AI, comparing it to past resistance to computers and the internet, suggesting that understanding AI is akin to having a team of business professors [9].