Skims is expected to open its first permanent stores early next year. (Photo courtesy of Skims.com)
Another big-name celebrity brand is entering brick-and-mortar.
Skims, the shapewear brand co-founded by reality TV star and entrepreneur Kim Kardashian, will debut its first permanent stores in 2024, opening a 5,000-sq.-ft. flagship in West Hollywood (Los Angeles) in the first half of the year, followed by a location in New York City, according to a report by Bloomberg. At least four stores are expected to open next year. (Meanwhile, Good American, the digitally native, size-inclusive denim brand founded by Kim's sister Khloé Kardashian and Emma Grede has opened its first physical store, at Westfield Century City Mall in Los Angeles.)
“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,” Jens Grede, co-founder and CEO of Skims, said in the report. “It marks the second chapter.”
The company’s growth has been impressive. Net sales totaled nearly $500 million last year, and the brand is looking to reach nearly $750 million in 2023. In January 2022, the company closed on a $240 million Series B funding round, doubling its valuation to $3.2 billion. Total funding is now close to $400 million.
Best known for its nude-colored shapewear, bodysuits and underwear, Skims’ mix now also includes loungewear, swimwear, sleepwear and some basic apparel.
Skims was founded online as a direct-to-consumer business in 2019. It has expanded with pop-ups and via wholesaling. In April, the brand opened a dedicated shop inside Saks Fifth Avenue’s New York City flagship. Skims is also available at Nordstrom, Selfridges, SSense, Net-a-porter, Lane Crawford, Holt Renfrew and David Jones.