The brand founded by reality star Kim Kardashian has reached a $5bn valuation.
Skims, which sells a range of shapewear, loungewear and underwear, achieved a $5bn (£2.93bn) valuation following a $225m funding round.
The retailer said it would channel the investment, which includes backing from Goldman Sachs Asset Management, into launching additional retail locations and international expansion.
Speaking on Wednesday, Kardashian said: “We can’t wait to take Skims to the next level as we continue to innovate and set the standard for our industry.”
This funding represents one of 2024’s largest investment rounds for an American consumer company. Skims currently operates 18 stores in the US and numerous partnerships with global retail partners. The retailer plans to concentrate “predominantly” on brick-and-mortar expansion in the coming years, according to a company announcement.
Skims launched in 2019 with shapewear, but has since increased its product offering to include loungewear and fashion, making it a competitor to other large athleisure brands.
The company has an extensive network of celebrity ambassadors, including the Kardashian family, alongside the likes of Megan Fox and Paris Hilton.
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