Skims

Last updated
Skims
FormerlyKimono Intimates
Company type Private
Industry Apparel
Founded10 September 2019
Founder
Headquarters Los Angeles, California
Key people
Jens Grede (CEO)
Products Shapewear
Website skims.com

Skims is an American shapewear and clothing brand co-founded by Kim Kardashian, Emma Grede and Jens Grede. [1] Skims has a focus on body positivity and inclusivity across the brand and practice inclusive sizing. [2] The company was valued at over $4 billion in July 2023. [3]

Contents

History

The company was founded in June 2019 by American media personality, businesswoman Kim Kardashian and Swedish entrepreneur Jens Grede. [4] Kardashian's then husband, Kanye West, was credited as being her "Ghost Creative Director" and for creating the company's unique logo. [5] [6] Prior to creation of this line, Kardashian was inspired by her own creative work of altering clothes, stating she "[has been] designing shapewear for 15 years". [7]

Skims's initial launch resulted in more than US$2 million in profit and the company selling out of merchandise in 10 minutes. [8] The company claims to have sold more than 3 million products in its first year in business. [2]

In April 2021, the company was reported to be worth over US$1.6 billion. [3] After further investments, the valuation of Skims was reported at US$3.2 billion in January 2022. [4] [9]

In March 2022, Skims made it to TIME's List of 100 Most Influential Companies of the year 2022. [10]

In October 2023, Skims announced the company's first venture into menswear with a collection of underwear, t-shirts, socks, and tank tops designed for men. [11] [12]

Products

Skims is notable for its wide range of sizes that range from XXS to 5XL. [2] Skims shape wear also comes in nine different shades to accommodate different skin tones. [2] In addition to shape wear, Skims has released many different collections in lounge wear, lingerie and accessories including bras, underwear, bodysuits, dresses, shorts, sweatpants, tops, hoodies, sweaters and slides. [2] [13]

Initially sold directly to consumers via SKIMS.com, Skims products are now being sold on a variety of websites and in Nordstrom stores. [14] [15]

Collaborations

Skims has collaborated with many companies. In 2021, the company established a partnership with the United States Olympics team providing Team USA and Skims branded athleisure for its athletes. The athletes wore the clothing during the 2020 Summer Olympics and Paralympics in Tokyo, and at the 2022 Winter Olympics in Beijing. [16] [4]

In October 2021, the company collaborated with Italian fashion house Fendi, creating a capsule collection of FENDI x SKIMS branded shapewear, leather dresses, and swimsuits. [17] [18] The collaboration was inspired by a Fendi collection previously released in 1978 by Karl Lagerfeld. [18] [19] Bloomberg News reported that the collaboration generated an estimated US$3 million in sales within 10 minutes of its release. [4]

In September 2023, the company and the National Basketball Association (NBA) announced a multiyear partnership in making Skims the official underwear partner of the NBA, the Women's National Basketball League (WNBA), and USA Basketball. As part of the partnership, Skims will also receive media exposure across several league platforms, including on-court virtual signage during NBA and WNBA broadcasts, as well as on the leagues' official social and digital platforms.The company and its products will also be highlighted at USA Basketball marquee events, including the USA Basketball Showcase, which features USA men's and women's national team exhibition games before major international competitions. [20] [21]

Controversies

The company was originally named Kimono Intimates by Kardashian and Jens Grede. [4] [3] The company's initial name was criticized by critics which argued that it disrespected Japanese culture and ignored the significance behind the country's traditional outfit. The mayor of Kyoto, Daisaku Kadokawa, wrote to Kardashian asking her to reconsider the company name and trademark for Kimono. Later, Kardashian announced that she would change the company's name to Skims. [22] [23]

Marketing

The company frequently utilizes influencer marketing by having celebrities and social media influencers wear their clothes. [24] Kylie Jenner, Kendall Jenner, Kourtney Kardashian and Khloé Kardashian have been seen wearing Skims numerous times on social media and in Skims advertising campaigns. [24] Other celebrities that have participated in Skims campaigns include Paris Hilton, Megan Fox, Kate Moss, Precious Lee, Candice Swanepoel, Heidi Klum, Tyra Banks, Alessandra Ambrosio, Rosalía, Paris Jackson, Becky G, Brooke Shields, Teyana Taylor, Iman Shumpert, Snoop Dogg, Chelsea Handler, SZA, PinkPantheress, Lana Del Rey, Ice Spice, and Sabrina Carpenter. [24] [25] [26] [27]

Financials

Skims's initial launch resulted in more than US$2 million in profit and the company selling out of merchandise in 10 minutes. [8] The company claims to have sold more than 3 million products in its first year in business. [2]

In April 2021, the company was reported to be worth over US$1.6 billion. [3] In January 2022, Skims was reported over to be worth US$3.2 billion. After further investments, the valuation increased to US$4 billion in July 2023. [4] [9]

Awards

In 2021, founder Kim Kardashian was given a "Brand Innovator" award for her work on Skims by Wall Street Journal Magazine's Innovator Awards. [28]

In November 2022, Skims received the inaugural "Innovation Award" presented by Amazon Fashion at the 2022 CFDA Fashion Awards. Cofounders Kim Kardashian, Emma Grede, and Jens Grede accepted the award at Casa Cipriani in Manhattan, New York. [29]

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References

  1. ↑ Gomez, Brandon (2021-11-09). "BEHIND THE DESK Co-founder of $1.6 billion brand Skims: 'I have a rule -- you have to do things that scare you'". CNBC. Retrieved 2022-11-21.
  2. 1 2 3 4 5 6 Maguire, Lucy (2020-10-26). "Kim Kardashian West: On shapewear". Vogue Business. Retrieved 2022-02-06.
  3. 1 2 3 4 de la Merced, Michael J. (2021-04-09). "Kim Kardashian's Billion-Dollar Brand Defies the Pandemic". The New York Times. ISSN   0362-4331 . Retrieved 2022-01-23.
  4. 1 2 3 4 5 6 Bhasin, Kim (January 27, 2022). "Kim Kardashian's Skims Doubles Valuation to $3.2 Billion". Bloomberg News . Retrieved January 28, 2022.
  5. ↑ Rogers, Taylor Nicole. "Kim Kardashian said Kanye West was the 'ghost creative director' of the shapewear brand she launched in September and that he held a 2-hour meeting about product's packaging". Business Insider. Retrieved 2022-10-21.
  6. ↑ Friedman, Vanessa (2019-06-27). "Kim Kardashian West and the Kimono Controversy". The New York Times. ISSN   0362-4331 . Retrieved 2022-10-21.
  7. ↑ Marinelli, Gina (September 10, 2019). "Everything We Know About Skims, Kim Kardashian West's Solutionwear Line". Glamour.
  8. 1 2 Smith, Talia (2019-10-11). "Kim Kardashian West Announces Launch of New Cotton-Based SKIMS Collection". Teen Vogue. Retrieved 2022-01-23.
  9. 1 2 "Kim Kardashian's Skims doubles valuation to $3.2 bln after latest fundraise". Reuters. 2022-01-27. Retrieved 2022-02-10.
  10. ↑ "TIME100 Most Influential Companies 2022: SKIMS". Time. Retrieved 2022-04-26.
  11. ↑ Cartter, Eileen (2023-10-23). "Kim Kardashian on Finally Making Skims Underwear for Men". GQ. Retrieved 2024-02-03.
  12. ↑ Fontaine, Aéris (2023-10-24). "Skims lance Skims Mens, sa ligne pour hommes". Fashion United (in French). Retrieved 25 January 2024.
  13. ↑ "SKIMS | Solutions For Every Body". SKIMS. Retrieved 2022-02-06.
  14. ↑ "FAQs". SKIMS. Retrieved 2022-02-06.
  15. ↑ Testa, Jessica (2020-02-06). "Kim Kardashian Has Learned Restraint". The New York Times. ISSN   0362-4331 . Retrieved 2022-02-15.
  16. ↑ Hills, Megan C. (June 29, 2021). "Kim Kardashian's label will supply Team USA with undergarments and loungewear". CNN Style . Retrieved January 31, 2022.
  17. ↑ Iredale, Jessica (October 25, 2021). "Kim Kardashian West's Skims to Partner With Fendi". The Wall Street Journal . Retrieved January 31, 2022.
  18. 1 2 Carrera, Martino (2021-10-26). "Fendi x Skims Collection Blends Both Brands' Ethos". WWD. Retrieved 2022-01-23.
  19. ↑ "Where To Get Your Hands On Fendi X Skims Before It Sells Out". Bustle. Retrieved 2022-02-06.
  20. ↑ "Skims named official underwear partner of the NBA, WNBA and USA Basketball". National Basketball Association. 2023-10-30. Archived from the original on 2023-10-30.
  21. ↑ "SKIMS Named Official Underwear Partner of USA Basketball". USA Basketball. 2023-10-30. Archived from the original on 2024-04-01. Retrieved 2024-04-01.
  22. ↑ Ho, Vivian (July 1, 2019). "#KimOhNo: Kim Kardashian West renames Kimono brand amid outcry". The Guardian . Retrieved January 31, 2022.
  23. ↑ Thomas, Lauren (August 26, 2019). "In wake of Kimono uproar, Kim Kardashian names shapewear company Skims". CNBC . Retrieved January 31, 2022.
  24. 1 2 3 "SKIMS & Their Marketing: How They're Breaking The Internet (in the best way possible)". Glamour & Guide. 2021-09-29. Retrieved 2022-02-10.
  25. ↑ "Kim Kardashian West and Paris Hilton Spotted in SKIMS Velour". SKIMS. Retrieved 2022-02-10.
  26. ↑ "Paris Jackson Models Swimsuit For SKIMS's Latest Campaign". thelooks.com. 2022-07-31. Retrieved 2022-08-19.
  27. ↑ Johnston, Rylee (2024-04-01). "Sabrina Carpenter Channels the '90s for SKIMS' Sultry Underwear Campaign". Billboard . Archived from the original on 2024-04-01. Retrieved 2024-04-01.
  28. ↑ Bjornson, Greta. "Kim Kardashian Thanks SKIMS for Helping Her Avoid 'Fashion Emergency' at WSJ. Innovator Awards". MSN. Retrieved 2022-02-10.
  29. ↑ Lockwood, Lisa (2022-10-25). "Skims to Receive Inaugural Innovation Award at the 2022 CFDA Fashion Awards, Presented by Amazon Fashion". Women's Wear Daily . Archived from the original on 2022-10-25. Retrieved 2024-04-01.
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