Why Kim Kardashian’s Skims is making a splash with investors and the shapewear market
Kim Kardashian was already a successful celebrity businesswoman when she launched Skims five years ago.
But more often than not, she simply had attached her name to a string of existing companies: QuickTrim supplements, Carl’s Jr. salads, Skechers Shape-Ups, Sugar Factory confections, Midori liqueur, Silly Bandz bracelets, Beach Bunny swimwear, and so on.
“We did every product that you could imagine — from cupcake endorsements to a diet pill at the same time, to sneakers or things that I didn’t know enough about for them to be super-authentic to me,” the reality television star told The Times in 2019. “Like it all made sense a little bit, but it wasn’t my own brand.”
Skims, Kardashian’s homegrown apparel company built upon her famous curves and her love of body-cinching shapewear, was on brand — and, finally, her brand.
Its first years were marked by explosive growth. The start-up is now a retail juggernaut with around $1 billion in net sales and Kardashian has become a savvy entrepreneur with an eye for spotting and setting trends. Skims has made a huge dent in the shapewear market previously dominated by Spanx while adding several new categories to its merchandise mix.
This year Skims is aggressively moving into its next phase, one that will see the Hollywood company enter the competitive bricks-and-mortar space for the first time.
Underscoring Skims’ growth is the heightened interest the retailer is drawing from investors. Last year it raised $330 million in venture capital funding, ranking it second among companies in the greater L.A. area and the only retail brand in the top 10, according to a recent analysis by CB Insights.
That influx of cash was particularly notable given the tough investment climate locally: The region saw a steep decline in venture capital funding from 2021 to 2023, when the amount of investment dollars fell 74%, the analytics firm said.
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Co-founded by Kardashian, who is chief creative officer, and Jens Grede, the company’s chief executive, Skims pulled in nearly $1 billion in net sales last year, according to Bloomberg, roughly double its 2022 total.
The company is reportedly eyeing an initial public offering this year. Kardashian and Grede declined to comment.
What began as a collection of undergarments designed to give women a more flattering, contoured silhouette has swelled into a comprehensive apparel giant: There’s underwear, bras, swimwear, dresses, tees and tanks, loungewear and pajamas. Inclusive sexy-meets-cozy clothing is the hook, with merchandise available in a wide range of sizes and skin tones.
In October, Skims launched a menswear line and became the official underwear partner of the NBA, WNBA and USA Basketball. It sells some accessories and clothing for kids, and this year will open bricks-and-mortar stores in several cities including a flagship location in Los Angeles.
“Skims has evolved into becoming a brand that can provide comfort for all audiences, not just for women,” Kardashian, 43, said when announcing the menswear line.
Shooting victim credits Kim Kardashian’s SKIMS for saving her life: ‘Body armor for women’Angelina Wiley, who was shot four times, said her bodysuit kept her from bleeding out
A woman, who was shot four times earlier this year, claimed in a recent TikTok that wearing a SKIMS bodysuit saved her life because it was so tight she didn’t bleed out.
Angelina Wiley was quick to praise SKIMS founder Kim Kardashian, attesting “Kim Kardashian saved my life.”
She explained, “This New Year’s I got shot four times. The night I got shot, under my dress I was wearing a SKIMS shaping bodysuit.”
She explained that the shapewear was “so tight on me that it literally kept me from bleeding out.”
Wiley said she recommended the shapewear and “definitely” planned to buy more.
A TikToker said her SKIMS bodysuit kept her from bleeding out after she was shot. (Kevin Mazur/Getty Images for SKIMS)
“I mean I should wear it every day,” she continued. “It’s like body armor for women.”
Wiley was one of two people shot on New Year’s Eve in Kansas City, Missouri, while out with friends, and suffered a ruptured bladder and a cracked pelvis, according to KCTV.
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“Call it fate or Jesus, but I’mma call it Kim,” she said laughing. “I’mma call it Kim for sure.”
Kardashian, herself, reportedly shared the post on her Instagram Story over the weekend, writing, “wowww” with a praying emoji. (Kevin Mazur / Getty Images)
Kardashian, herself, reportedly shared the post on her Instagram Story over the weekend, writing, “wowww” with a praying emoji.
FOX Business has reached out to Kardashian and SKIMS for comment.
“Still can’t believe it,” Wiley wrote, adding, “It was so exciting” after commenters said they had seen her story on Kardashian’s Instagram.
In another video posted last weekend, Wiley explained that the bodysuit had pushed her in so the bullet hit the “fattier” part of her stomach.
Angelina Wiley praised Kim Kardashian for saving her life via her SKIMS bodysuits. (Gotham/GC Images / Getty Images)
She said the bullet is still in her stomach because doctors said it would be “higher risk” to remove it.
She added that she was “so sad” that her bodysuit was destroyed “because that was the first day I got to wear it” and after she was shot it was cut open and taken for evidence.
But she said that SKIMS gave her a full refund and a discount on future purchases — although several commenters suggested she should be made part of SKIMS’ PR team.
