Kim Kardashian co-founded shapewear and loungewear brand Skims has reached a $5bn (£2.93bn) valuation after securing $225m (£132m) in fresh investment.

It is understood the funding round, which includes backing from a Goldman Sachs investment arm, is one of the largest raised this year by a US consumer brand.

The business said the new capital will support an accelerated rollout of physical retail and further international expansion. “We can’t wait to take Skims to the next level as we continue to innovate and set the standard for our industry,” said Kardashian.

The company expects sales to exceed $1bn (£586m) this year, which CEO Jens Grede said underpins confidence in its long-term ambitions.

Founded in 2019 with a focus on shapewear, Skims has since diversified into loungewear and wider apparel lines, pushing further into the mainstream athleisure and sportswear market dominated by players including Lululemon and Alo Yoga.

The brand continues to leverage a powerful roster of influencers, including Kardashian, Megan Fox and Paris Hilton, to fuel global demand.

Skims operates 18 standalone stores in the US and sells through global retail partners, but said it will focus “predominantly” on bricks-and-mortar growth over the coming years.

In 2023, Skims opened the doors to its debut UK pop-up store at the Corner Shop at Selfridges London, in celebration of its new swimwear line.

Earlier this year, the brand revealed it was eyeing its first standalone flagship store on London’s Regent Street, with a launch date of summer 2026.

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