Exceeds the Combined Scale of Victoria’s Secret and Under Armour
Recently, celebrity-founded brands have been creating a sensation by captivating the global Millennials & Gen Z demographic. Notable examples include Selena Gomez's "Rare Beauty," Rihanna's "Fenty Beauty," and Hailey Bieber's "Rhode." In particular, the underwear brand "Skims," created by American celebrity and entrepreneur Kim Kardashian, has become a trendsetter and achieved a company valuation of 5 billion dollars (approximately 7.3 trillion won).
Photos of Aespa Karina, Blackpink Jennie, and Aespa Ningning wearing Skims products (from left to right). Screenshot from Instagram
The Hot Topic 'Skims' Achieves 5 Billion Dollar Valuation in Just 6 Years
According to Reuters and other foreign media on November 12, Skims recently raised 225 million dollars (about 329.5 billion won) from funds including Goldman Sachs Alternative Investments and affiliates of BDT & MSD Partners. With this investment, Skims’ post-money valuation has reached 5 billion dollars. This figure surpasses the combined market capitalization of comparable U.S. listed companies Victoria’s Secret (about 2.86 billion dollars) and Under Armour (about 1.98 billion dollars).
Skims is a direct-to-consumer (D2C) brand co-founded in 2019 by celebrity entrepreneur Kim Kardashian and businessman Jens Grede. The brand started with shapewear and innerwear lines designed to enhance body shape and has since expanded its product range to include athleisure and loungewear. Kardashian serves as Chief Creative Officer (CCO), overseeing product design and brand planning.
Skims is expected to surpass annual net sales of 1 billion dollars (1.4646 trillion won) this year. The company currently operates 18 directly managed stores in the United States and franchise stores in Mexico, totaling 20 offline locations. Skims plans to expand its business model, which has been heavily focused on online sales, to prioritize offline stores. Kardashian stated, "We will continue to innovate and set industry standards, and I look forward to taking Skims to the next level."
Skims, Already a Hit with American Gen Z, Also Captivates Korean Millennials & Gen Z
Skims has rapidly attracted young consumers by leveraging Kardashian’s social media accounts, which boast 350 million followers. More than half of Skims’ customers are Millennials & Gen Z. On TikTok, “SKIMS try-on haul” videos have become popular, with Gen Z users consistently posting reviews and haul videos featuring Skims products. In Korea, the brand has gained attention as K-pop stars such as Jennie and Ros? of Blackpink, and Karina and Ningning of Aespa, have been seen wearing Skims. On YouTube, videos such as “Trying on Skims” and “Skims Direct Purchase Haul” are easily found.
Kardashian is a well-known American figure who has evolved from reality TV star to influencer and billionaire entrepreneur. She rose to fame with “Keeping Up with the Kardashians,” which showcased the daily lives of her and her family, and continues to generate overwhelming buzz. For years, she struggled to find shapewear that fit her unique body type, which led her to launch Skims in 2019.
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