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Skims Hits $5 Billion Valuation, Plans Next Phase of Growth
In recent years, Skims has evolved from an online-only retailer to an operator of 18 locations.
Skims opened its New York flagship in late 2024. Photography: Courtesy of Skims, Los Angeles
Skims (Los Angeles) recently completed a funding round of $225 million in raised capital, according to Retail Dive, placing the retailer’s valuation at $5 billion. The brand raised the $225 million in this funding round led by Goldman Sachs Alternatives.
The formerly online-only retailer is planning to use proceeds from the investment for international growth and to expand its physical footprint. Skims also anticipates exceeding $1 billion in net sales for 2025.
In a statement, Kim Kardashian, Co-Founder and Chief Creative Officer of Skims, says, “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.”
Skims has made retail headlines the past several years, primarily due to its fast-paced growth. VMSD featured Skims as its cover story in May/June (for its New York flagship opening) and also awarded the brand with the Retail Renovation of the Year as part of the Retail Renovation Competition.
The retailer opened its first physical location in 2024. Currently, Skims operates 18 U.S. stores as well as two franchise stores in Mexico.
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