Skims Plots Its Next Moves: ‘We Don’t Have the Luxury of Failing’
Skims recently raised funding at a $3.2 billion valuation. Kim Kardashian and Jens Grede, in an exclusive interview with BoF, explain how the ‘solution wear’ empire plans to prove it’s more than a pandemic fad. First up: swimwear.
Following its Series B funding round, Skims is valued at $3.2 billion. Its hopes are that the cash infusion will allow the brand to continue growing in new categories, like swim, and new geographies while remaining profitable.
Unrelenting demand is as much a boon as it is a problem, especially as the global supply chain crisis continues.
Skims stores and a potential IPO are likely in its future, if it can rise above pressure from investors, customers and the market.
While details of Kim Kardashian West’s cosmetics rebrand have yet to be unveiled, her coming entrance into skin care, and bringing each of her beauty categories under one umbrella, underscores prevailing trends in the industry.
The move is the latest example of how Balenciaga is leaning more heavily than ever on Kardashian and her estranged husband, the musician formerly known as Kanye West, to broker visibility in the American market.
For The State of Fashion 2024, trailblazing influencer Gstaad Guy’s online parodies of the ultra-wealthy highlights how a niche genre of influencer marketing is helping to inject newness into how brands connect with customers.