Kim Kardashian’s Skims becomes Lululemon’s biggest new competitor

Kim Kardashian’s Skims is emerging as one of the most disruptive forces in retail, accelerating at a pace that now puts it in direct competition with established athletic and lifestyle brands like Lululemon.

As economic uncertainty continues to affect consumer spending and force store closures across the retail sector, Skims is defying the downturn with rapid global growth and surging demand.

Launched in 2019 by Kardashian and co-founder Jens Grede, Skims was built on a foundation of body inclusivity, offering shapewear and apparel in sizes ranging from XXS to 4X. The brand gained momentum during the pandemic, when online shopping and loungewear demand spiked, helping Skims secure a loyal digital following. Strong celebrity influence and a powerful social media strategy further propelled its rise.

Today, Skims has reached a new milestone: a $5 billion valuation following a fresh funding round led by Goldman Sachs, which raised $225 million. This represents a $1 billion increase in just two years. According to The New York Times, the company generated $750 million in revenue in 2023, and annual sales are projected to hit $1 billion this year.

“This milestone reflects continued confidence in our long-term vision,” said Skims CEO Jens Grede, noting that the brand plans an aggressive expansion strategy.

Skims currently operates 19 stores across major U.S. cities, along with a location in Mexico City. Starting in 2026, the company aims to significantly increase both domestic and international storefronts, with the goal of becoming a predominantly physical retail brand.

As Skims continues its explosive growth, industry analysts say the brand poses a serious challenge to long-dominant players like Lululemon—signaling a major shift in the competitive landscape of athleisure and shapewear.