Kim Kardashian’s Skims is now worth a whopping $5 billion as the fast-growing lingerie firm raises cash to expand its retail footprint worldwide.
The underwear and shapewear company raised $225 million in its latest fundraising round – hiking its valuation up from $4 billion just two years ago, according to the New York Times.
The apparel firm – founded by Kardashian and Jens Grede in 2019 – is expected to rake in more than $1 billion in sales this year as it expands beyond its lingerie roots, now selling clothing and accessories.
Those include wacky, headline-grabbing items, like thongs adorned with fake pubic hair, bras with built-in false nipples and facial shapewear.
It plans to use the funding to open new stores, especially international locations.
“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,” said Kardashian, who serves as the brand’s chief creative officer.
Goldman Sachs Alternatives led the funding round, along with BDT & MSD Partners.
Skims and representatives for Kardashian did not immediately respond to The Post’s request for comment.
Skims currently has 18 storefronts in cities including New York, Los Angeles, Austin, Atlanta and Boca Raton, Fla.
The company is also hoping to continue launching new products as it prepares to release its collaboration with Nike.
NikeSkims, which the companies announced in February, includes “sport-ready shapewear” for women, including fitted jackets, sports bras and leggings.
Kardashian’s brand has already made a name for itself in the world of sports as the official underwear partner for the WNBA, NBA and USA Basketball.
There’s also buzz that Kardashian might be looking to build up her beauty brand again after earlier struggles.
Skims earlier this year bought back the 20% stake in Kardashian’s beauty brand that it had sold to Coty.
This month, the company hired Diarrha N’Diaye – who founded beauty brand Ami Colé and previously worked for Glossier – to run Skims’ beauty and fragrance division.
Over the summer, Skims launched its Seamless Sculpt Face Wrap – a $48 stretchy nylon fabric that wraps around the face and provides “targeted compression for shaping & sculpting,” according to the Skims site.
It’s a possible sign the brand is weighing whether to lean into skincare and beauty tools.
Goldman Sachs Alternatives and BDT & MSD Partners are new investors in the company.
Wellington Management, Greenoaks Capital Partners, D1 Capital Partners, Imaginary Ventures and Thrive Capital have all previously invested in Skims.
Previously, its most recent fundraising round took place in 2023, when the company raised $270 million at a $4 billion valuation.
Some have speculated the company might consider going public soon.
Co-founder Grede – who previously told the Times that Skims “deserves” to be a public company – later sought to tamp down speculation.
“We might make that position in the future, but that’s not what I’m thinking about,” he told WWD during an interview late last year.
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