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Skims, the renowned body-positive shapewear company co-founded by Emma Grede, a 43-year-old Black entrepreneur ranking among America’s richest Black women, has reached a $5-billion valuation following a successful new funding round that raised $225 million.
Skims reaches $5-billion valuation
The capital injection, led by Goldman Sachs Alternatives, with participation from funds affiliated with BDT & MSD Partners has catapulted Skims’ valuation by $1 billion, from $4 billion to $5 billion.
The new round, one of the largest for a U.S. consumer brand this year, cements Skims as a global giant in the apparel industry. Founded by Kim Kardashian and Grede in 2019, the brand, which began as a body-positive shapewear label, has witnessed a meteoric rise due to its emphasis on inclusivity and body positivity.
The infusion of $225 million in funding is expected to fuel Skims’ expansion efforts as it plans to use the capital to expand its retail footprint, launch new stores across major cities, and broaden its product categories beyond shapewear and loungewear.
Expanding the brand and global footprint
Skims which has been profitable since its inception in 2019 hits $500 million sales in 2022 and is projected to exceed $1 billion this year, as it deepens its global presence with more than 18 physical stores and partnerships with leading retailers worldwide.
A recent tie with Nike, branded as NikeSKIMS, has pushed the label deeper into the booming athleisure and sportswear market under the leadership of Kim Kardashian, Emma Grede, and her husband, Jens Grede who is the CEO.
Emma Grede’s operational influence
Emma Grede co-founded Good American with Khloé Kardashian prior to founding Skims, and she is a member of the executive boards of multiple businesses connected to the Kardashians. According to Forbes, her net worth grew from $320 million in the middle of 2023 to an estimated $405 million.
For Grede, the milestone reinforces her reputation as a capable operator and strategic thinker. Together with Kardashian and their executive team, she continues to steer Skims toward becoming not just a popular brand, but a global standard for inclusive fashion and modern retail.
