default-output-block.skip-main
BoF Logo

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.

The Debrief | How Skims Took on Victoria’s Secret and Spanx

Kim Kardashian’s ‘solution wear’ line was recently valued at $3.2 billion. BoF correspondent Alexandra Mondalek charts the rise of the brand, and details what challenges lie ahead.
The Debrief Skims
The author has shared a Podcast.You will need to accept and consent to the use of cookies and similar technologies by our third-party partners (including: YouTube, Instagram or Twitter), in order to view embedded content in this article and others you may visit in future.

Follow The Debrief wherever you listen to podcasts.

Background:

Founded in 2019 by Kim Kardashian and retail veteran Jens Grede, “solution wear” line Skims has taken the fashion industry by storm, disrupting the sleepy shapewear category and fetching a $3.2 billion valuation following its Series B funding round in January 2022. Now, the brand is looking to launch new categories and in new geographies, and is eyeing brick-and-mortar and a potential IPO.

“Investors particularly like to talk about founder-product fit, and this really felt like a business that accomplished that,” said BoF’s Alexandra Mondalek.

Key Insights:

  • Skims has seen non-stop momentum since its launch. Going forward, the brand will have to find a way to keep up with lofty expectations based on its early performance. As Grede told BoF in March, “[Skims] doesn’t have the luxury of failing.”
  • A big challenge Skims has faced is managing unrelenting demand, especially amid the global supply chain crisis. Core items are often out of stock on the brand’s site — a huge problem for getting and keeping customers, and a reason for the business to take on funding, raising a $240 million round in January.
  • A hallmark of Skims’ success has been its marketing approach. From its simple, sexy imagery — a recent campaign featured a number of former Victoria’s Secret models — to the way it has tapped influencers and Kardashian’s powerful network, the brand has focused on brand-building rather than performance marketing.

Additional Resources:

In This Article

© 2022 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions

More from Retail
Analysis and advice from the front lines of the retail transformation.




view more

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.
CONNECT WITH US ON
Discover the Key Themes That Will Define the Global Beauty Industry
© 2023 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions, Privacy Policy and Accessibility Statement.
Discover the Key Themes That Will Define the Global Beauty Industry