Skims, founded by Kim Kardashian, secures $225 million in funding led by Goldman Sachs Alternatives, valuing the company at $5 billion. With nearly $1 billion in annual sales, Skims plans to expand brick-and-mortar locations internationally and diversify product offerings. The new funding follows the launch of NikeSkims, signaling ambitions for growth. CEO Jens Grede sees this as a milestone for the company’s future, with plans to become a predominantly physical business. This move could further delay Skims’ IPO, as the company continues to scale without immediate pressure to go public. Goldman Sachs Alternatives is excited to partner with Skims on disruptive growth opportunities. Since its inception, Skims has gained a loyal following for its inclusive sizing and minimalist aesthetic. Kim Kardashian is thrilled about the new chapter for Skims and looks forward to setting new industry standards.

Read more at CNBC: Skims hits $5 billion valuation after funding round led by Goldman