Skims, the shapewear business co-founded by celebrity mogul Kim Kardashian, is planning to launch its inaugural permanent storefronts in 2024 as part of an extensive retail expansion approach. As reported by Bloomberg, the brand plans to open its main retail location in Los Angeles in the first part of the year, after which it will open one in New York.
The 5,000-square-foot store in Los Angeles will be located on Sunset Boulevard in West Hollywood, an incredibly coveted shopping location known for its bustling retail culture.
As of January 2022, the company was valued at $3.2 billion. And as reported by Parade, about a third (roughly 35 percent) of Skims is owned by Kim Kardashian, who has made an impressive profit from her business so far.
Kim Kardashian started Skims due to a lack of size inclusion in the lingerie and shapewear markets
Kim Kardashian is widely recognized as a reality television personality and fashion queen, but few people are aware that she has had a variety of business ventures in the past. Skims turned out the most popular and prosperous of her previous projects. Kim Kardashian started her apparel line Skims, which strives to accommodate all body shapes with inclusive lingerie, shapewear, and loungewear. Skims has seen tremendous success since then, with notable partnerships and sold-out collections.
Kim Kardashian and Swedish businessman Jens Grede created Skims in 2019. Skims cleared all of its items within 10 minutes of its inaugural launch, earning a $2 million profit. This phenomenally successful debut laid the groundwork for the brand’s future success.
Kim Kardashian has revealed that the inspiration for the brand stemmed from the failure to find shapewear that fits her body type that was comfortable to be worn. As a result of this, Skims clothing strives to be as diverse as achievable, with sizes spanning from XXS to XXXXXXL.
Skims apparel is also available in a wide range of ‘nude’ shades to suit every skin tone, furthering the brand’s universality. Underwear, bras, swimwear, shapewear, loungewear, pajamas, and a variety of clothes, including tops and leggings, are currently available on SKIMS online.
Skims fosters itself as a “solutions-oriented” enterprise producing the future generation of lingerie, leisurewear, and shapewear, pledging to ‘consistently innovate on the past’ to progress the shapewear business.
So far, it appears like Skims and Kim Kardashian have accomplished their goal: Skims has received widespread accolades for its diversity, and the business was appraised at $3.2 billion in January 2022. Furthermore, the label was named one of TIME’s 100 Most Influential Companies in 2022.
Since its inception in 2019, Skims has gradually branched out into the area of offline retail by means of effective partnerships with recognized shopping centers such as Nordstrom as well as Saks Fifth Avenue in the US, and additionally Selfridges in Britain. The previous year, the Los Angeles-based company made an astonishing $500 million in revenues, prompting rumors of a prospective initial public offering (IPO).
According to Bloomberg, Jens Grede, the co-founder and chief executive officer of Skims, anticipates a future in which the company’s outlets would be located worldwide, similar to the broad presence of established business titans like Apple or Nike.
This smart move into conventional retailing is a natural next step for Skims as it strives to establish an offline presence as well as capitalize on its growing popularity in the world of fashion. Skims is now prepared to acquire a bigger worldwide client base with its planned permanent locations and ongoing growth trajectory.
