Skims, the underwear brand from Kim kardashian, announced plans to expand its retail presence with the opening of permanent stores next year. The first flagship store will open in Los Angeles in the first half of 2024, and the second in New York. The 16,000-square-foot Los Angeles store is located on Sunset Boulevard in West Hollywood, near popular streetwear stores like Supreme and Keith’s.
Skims started as a direct-to-consumer business in 2019, but has since branched out into physical commerce through relationships with department stores such as Nordstrom Inc. and Saks Fifth Avenue. However, despite the fact that they don’t have physical stores, it has emerged in the past few hours that their company is now worth $4 billion.
skimming It raised $270 million in a new financing round, now valued at $4 billion, which is expected to be announced later today, Wednesday. That number is higher than the valuation they gave the company last year, which was $3.2 billion.
Continuing with their expansion plan, company executives plan to open at least four more stores next year. They are considering opening stores in regional tourism markets such as Dallas, Miami and Atlanta.
In addition, they are analyzing the feasibility of opening stores abroad, after testing in Paris and Hong Kong. Now, the big question many are asking is: when will it go public?
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