GLOBAL – Skims, the shapewear and apparel company co-founded by American entrepreneur Kim Kardashian, has reached a valuation of $5 billion following a $225 million funding round, the company announced on Wednesday, November 12, 2025. The capital raise, one of the largest for a U.S. consumer brand this year, was led by Goldman Sachs Alternatives with participation from BDT & MSD Partners.

This latest investment boosts Skims' valuation from $4 billion, a figure set after a $270 million funding round in July 2023. Founded in 2019 by Kardashian and Jens Grede, who serves as CEO, the brand has rapidly expanded from its initial focus on inclusive shapewear to a broad range of products including loungewear and athleisure. The company is on track to exceed $1 billion in net sales in 2025.

Expansion into Physical Retail and New Markets

The new funds are earmarked for an aggressive expansion of Skims' physical retail footprint and its international presence. The company, which began as a direct-to-consumer online business, now operates 18 stores in the United States and is planning to become a predominantly physical retail brand. “This new milestone reflects confidence in our long-term vision and disciplined execution, while positioning Skims to launch its next phase of growth,” said Jens Grede in a statement on Wednesday.

While the immediate focus for new stores includes major global cities, with London and Dubai slated for openings, the company's long-term vision is ambitious. Grede has previously stated, “Kim and I can envision a future where years from today there's a Skims store anywhere in the world you'd find an Apple store or a Nike store.” In August 2025, Skims appointed Robin Gendron as President for Europe, the Middle East, and Africa (EMEA) to accelerate its footprint in the region.

The Kenyan Context: A Growing Athleisure Market

Currently, Skims does not have a physical retail presence in Kenya or East Africa. Kenyan consumers can purchase products through the brand's international website, which involves overseas shipping. The brand's main competitor mentioned in the source material, Lululemon, also lacks physical stores in Kenya but ships to the country, alongside South Africa and Tanzania.

However, Skims' global expansion into the athleisure market coincides with a growing interest in this sector within Kenya. The rise of fitness culture in urban centers like Nairobi has spurred the growth of local athleisure brands and increased demand for stylish, functional activewear. International brands are available online and through select local retailers. While Kim Kardashian has previously engaged in promotional activities in South Africa and Ivory Coast, no specific business ventures for Skims have been announced for the continent. The appointment of an EMEA president suggests a structured approach to the wider region, which could eventually include key African markets. For now, the brand's direct impact on Kenya remains limited to online accessibility, but its global growth trajectory is a significant indicator of potential future market entry.