Goldman led $225M raise for SKIMS values company at $5B

SKIMS, the apparel and shapewear label co-founded by Kim Kardashian, has closed a significant private equity infusion after agreeing a $225 million equity investment that places the business at a roughly $5 billion valuation. The transaction was led by Goldman Sachs’ alternatives platform with participation from funds affiliated with BDT & MSD Partners.

The new capital will be earmarked for an international rollout and a stepped-up commitment to physical retail, product research and category expansion into activewear and related apparel lines. Management sees the round as the financial fuel to accelerate a transition from a digitally native model to a true omnichannel retailer.

Founded in 2019 by Kim Kardashian and entrepreneur Jens Grede, SKIMS has been one of the fastest-scaling brands in contemporary fashion. Company projections cited by management place net sales above $1 billion in 2025, a landmark that helps explain strong investor appetite in a market where premium direct-to-consumer names have increasingly attracted alternative asset capital.

Operationally, SKIMS runs 18 standalone stores across the United States and two franchise sites in Mexico, and the management team has outlined plans to keep expanding brick-and-mortar presence alongside e-commerce. The brand has also broadened its reach through partnerships and sub-brand experiments — a notable example being recent collaborative product work across sports and lifestyle categories.

In remarks shared with investors, CEO Jens Grede framed the financing as validation of the company’s long-term strategy and said the funds will support both international market entries and continued product innovation. Beat Cabiallavetta, who heads hybrid capital at Goldman Sachs’ alternatives business, highlighted the brand’s category-creating product approach and ability to scale beyond its original shapewear niche.

Kim Kardashian, who remains active in creative direction, positioned the round as a turning point in SKIMS’ evolution from a DTC start-up into a larger, omnichannel global player. Industry observers say the deal reflects a broader trend: institutional investors are increasingly allocating to consumer-platform companies that combine strong brand equity, recurring revenue and clear pathways to retail expansion.

Looking ahead, the company’s execution on store economics, international marketing and product diversification will determine whether the valuation is justified. If management meets its revenue targets and maintains strong gross margins, the round could be a template for how B2C lifestyle brands scale with private markets backing.