Kim Kardashian now worth $1.7 billion after Skims gets $225 million funding led by Goldman Sachs

Kim Kardashian owns 35 percent of Skims.

Kim Kardashian’s shapewear brand Skims has raised $225 million in fresh funding led by Goldman Sachs Alternatives, pushing its valuation to $5 billion and her net worth to $1.7 billion, as per Forbes. At 35 percent, Kardashian retains the largest stake in Skims.

Moreover, according to The New York Times, the six-year-old company, co-founded by Kardashian and CEO Jens Grede in 2019, has become one of the fastest-growing apparel brands in the US.

Rapid growth and profitability
Skims was previously valued at $4 billion in July 2023 after a $270 million Series C round led by Wellington Management. Before that, it was valued at $3.2 billion in January 2022. The brand generated about $750 million in sales in 2023, up from $500 million in 2022, and became profitable last year with nearly $713 million in net sales. Revenue has more than quintupled since 2020, when it stood at $145 million, Fortune reported.

Expanding beyond shapewear
Initially launched as a shapewear brand promoting body positivity and inclusive sizing from XXS to 5XL, Skims has expanded into loungewear, swimwear, and menswear. It has also struck high-profile partnerships, including becoming the official underwear partner for the NBA, WNBA, and USA Basketball. In February, Skims announced NikeSKIMS, a women’s activewear collaboration with Nike.

Aggressive retail and global push
After operating primarily online, Skims opened its first permanent store in Georgetown in 2024, followed by Miami, Austin, and a flagship on Fifth Avenue in New York. A 4,546-square-foot flagship launched on Los Angeles’ Sunset Strip in April. The brand plans 16 new US stores this year, bringing its domestic footprint to 22 locations. Internationally, Skims is expanding into Europe and the Middle East, with standalone stores planned for London’s Regent Street and Dubai by mid-2026, and 15 stores in Israel by 2026.