Skims Upcoming IPO: Shaping up for a potential public launch
While plenty of people have their opinions about the Kardashians, there's no denying that the family has been able to turn fame into entrepreneurial success. One of the best examples of this phenomenon is Kim Kardashian's fashion brand Skims.
Since launching in 2019, the brand has soared in both pop culture and the finance world, earning a $4 billion post-money valuation with its last primary funding round in 2023.4
Now, Skims is reportedly eying an IPO for as soon as early 2025, according to The Information.5 That said, the company was previously speculated to be a strong IPO candidate for a 2024 IPO,6 and that did not materialize, so patience may be in order.
Skims did take steps like hiring former Nike Vice President, Investor Relations, Andy Muir, as Chief Financial Officer in 2022,7 which helped fuel IPO rumors. However, shortly after raising its Series C in 2023, Skims co-founder Jens Grede told The New York Times that while there had been investor interest Skims was in no rush, though, "At some point in the future, Skims deserves to be a public company."8
Skims: company background
Skims is a fashion brand that sells shapewear, underwear and other clothing items. The company was founded in 2018 and officially launched in September 2019 by selling items such as bodysuits and bras. Since then, it has expanded into other areas such as loungewear and swimwear, as well as launching a line for men.9
The company was founded by Kim Kardashian, alongside entrepreneurial couple Jens Grede and Emma Grede. That pairing came partly as a result of Emma Grede having previously worked with Kim's sister, Khloé Kardashian, to create the denim brand Good American.10 Forbes has reported that Kardashian owns at least a third of the company, while Kanye West has been reported to hold a 5% stake.11
Meeting modern demands for style and inclusivity
Skims has quickly become part of the zeitgeist, in part due to clever marketing and the power of Kim Kardashian's celebrity status. The brand has successfully partnered with other celebrities for promotion12 and has scored partnerships like becoming the official underwear partner of the NBA, WNBA and USA Basketball.13
In addition to strong branding, Skims has found success by keeping up with evolving style preferences and offering more inclusivity, such as in terms of sizes and colors for shapewear and undergarments that align with a broader range of body shapes and skin tones, as an Inc. article notes.14
Plus, Skims is growing from its direct-to-consumer (DTC) roots by opening brick-and-mortar retail stores, starting in Washington D.C., with stores in New York and Los Angeles among other major cities.15
Meanwhile, the company's revenue has grown from $145 million in 202016 to nearly $1 billion in net sales in 2023.17
Skims stock price history
At this time, Skims' Forge Price is not available, but check back to see if additional trading activity or data releases enable Forge to compute a current stock price. Forge Price is a derived data point that reflects the up-to-date price performance of venture-backed, late-stage companies and is calculated based on a proprietary model incorporating pricing inputs from primary funding round information, secondary market transactions and indications of interest (IOIs) on Forge.
Skims' primary funding rounds price per share started with a seed round in March 2019 priced at $2.00 per share, which jumped to $109.14 with its Series A and $142.61 with its Series A-1, which took place in April 2021.
Skims' Series B in January 2022 took the price to $273.30, and its July 2023 Series C brought the price per share to $345.90.18
Skims funding history and private market valuation
Skims started with a nearly $4 million seed round in 2019 funded by Imaginary Ventures. At that time, the seed round valued Skims at $16.77 million.19
Skims then brought in over $150 million in investment from Thrive Capital and Alliance Consumer Growth, alongside Imaginary Ventures again, for its Series A/A-1 in 2021, which brought the company into unicorn status with a $1.6 billion valuation.20
Its Series B in 2022 included investment from Lone Pine Capital and D1 Capital Partners, alongside more investment from Thrive Capital, Imaginary Ventures and Alliance Consumer Growth. This round totaled over $240 million and brought Skims' valuation to $3.2 billion.21
Its Series C in 2023 raised nearly $330 million, bringing the funding-to-date to nearly three-quarters of a billion dollars and a post-money valuation of $4 billion. This funding round included investment from Wellington Management and Greenoaks Capital Partners, along with further investment from D1 Capital Partners and Imaginary Ventures.22
How to invest in Skims before its IPO
Because Skims is a private company, its shares are not available on public stock exchanges. However, accredited investors may be able to buy pre-IPO shares of Skims on a secondary marketplace like Forge, subject to availability.
Forge's marketplace provides a self-directed trade experience for submitting bids and managing documents, giving investors pricing transparency throughout the process. An experienced team of private market specialists is also available to assist throughout the trade lifecycle if needed. To learn more, read about pre-IPO investing or create an account to explore available private market opportunities.
What a Skims IPO could mean for investors
While Skims has not confirmed an exact IPO date, the company has taken several steps that signal public market readiness. These include the hiring of a CFO with deep investor relations experience and reported discussions with investment banks in the summer of 2024 about a potential offering as soon as the first half of 2025.23
If broader market conditions remain favorable, Skims could be a notable consumer-brand IPO candidate. Investors monitoring the retail and fashion sectors will likely watch closely to see how the brand's valuation and growth trajectory translate to the public market. Check back here or take a look at Forge's upcoming IPO calendar to stay informed on Skims and other private companies approaching a potential public debut.
FAQs about the Skims upcoming IPO
Is Skims going public?
Skims is reportedly considering an IPO, with one possibly coming as soon as the first half of 2025, according to The Information.24 However, Skims has not publicly stated a specific IPO timeline.
What is Skims' current valuation?
Skims reached a $4 billion post-money valuation with its Series C funding round in July 2023.25 The company's valuation has grown substantially from its $16.77 million seed-round valuation in 2019, reflecting rapid revenue growth and strong investor interest.
Who founded Skims and who are its largest shareholders?
Skims was co-founded by Kim Kardashian, Jens Grede and Emma Grede. Forbes has estimated that Kardashian owns at least a third of the company. Kanye West has been reported to hold a 5% stake.26 Institutional investors including Wellington Management, Thrive Capital and Imaginary Ventures also hold significant positions from successive funding rounds.
Who are Skims' key investors?
Skims has brought in over $730 million from prominent venture capital and asset management firms, including Wellington Management, Imaginary Ventures, Thrive Capital, Alliance Consumer Growth, Lone Pine Capital, D1 Capital Partners and Greenoaks Capital Partners.
Can I buy Skims stock before the IPO?
At this time, Skims is still a private company. Investment is generally limited to those invited to participate in its primary funding rounds. Accredited investors may also be able to trade pre-IPO shares of Skims on a secondary marketplace like Forge, subject to availability.
