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Skims Plays the Long Game

Kim Kardashian’s shapewear label seemed destined for a boffo I.P.O., but a series of hiccups and the revival of Victoria’s Secret have made the timing of its exit a bit cloudier.

Jens Grede, Kim Kardashian, Emma Grede
From left: Skims co-founder Jens Grede, Skims co-founder Kim Kardashian, and Skims’ chief product officer Emma Grede. Photo: Olivia LiCalzi/BFA.com
Malique Morris
June 30, 2026

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For the past two years, Wall Street and Seventh Avenue have been salivating over an expected Skims I.P.O., which would create generational wealth for co-founders Kim Kardashian and Jens Grede and their investors. Last November, the shapewear brand was generating around $100 million in annual EBITDA when it raised $225 million at a $5 billion valuation. This year, it could generate north of $200 million, I’m told. That is a remarkable outcome in a sector overflowing with spectacular failures, and one that seemed to presage an imminent exit into the public market.