Hear Ye, Hear Ye!
First permanent store of Skims inaugurated in Georgetown district, Washington D.C.
Skims, the wildly popular athleisure brand co-founded by the legendary Kim Kardashian, took a giant leap forward this week as they unveiled their first permanent store in Georgetown, Washington D.C. But that's not all, folks! The California-based brand has big plans for the future, with additional stores slated to open this year and flagship locations in New York and Los Angeles on the horizon.
Here's the scoop: The D.C. store, spread over 3,300 square feet, is the first stop in Skims' retail expansion spree. The ladies' collection is currently on display, with a grand plan to introduce the men's line later this year. The store was meticulously designed in collaboration with non-other than Willo Perron of Perron-Roettinger.
The new stores scheduled to open in 2023 include a 3,721-square-foot store in Aventura, Florida, slated for June 27, a 3,382-square-foot location in Austin, Texas, due in July, a 6,909-square-foot Houston store in August, and a 3,500-square-foot unit in Atlanta in September.
Jens Grede, CEO and co-founder of Skims, was thrilled to announce, "This is a monumental moment for Skims...We've achieved phenomenal growth thus far and having an omnichannel retail approach supports our plans to scale the business across key markets in the U.S."
Skims has ventured into brick-and-mortar retail in a big way, emulating the footsteps of other successful apparel retailers like athleisure brand Halara in New York City and Revolve Group in Aspen, Colorado, this month, and Gen Z fast-fashion brand Cider in New York City last November.
Kim Kardashian, the visionary behind Skims, shared her excitement, "As this is Skims first permanent store, with more to come, we've been so meticulous with each and every detail to ensure that our customers are immersed into the Skims universe."
The company also upped its game in 2023 by appointing Robert Norton as the Chief Commercial Officer, further solidifying their commitment to brick-and-mortar retail. Norton expressed his enthusiasm, "Brick and mortar retail is an important part of our growth strategy...We see our new stores as integral to building holistic and authentic relationships with customers, both old and new."
Skims made its debut in the men's apparel market last October and, in a daring move, became the official underwear partner of the NBA, WNBA, and USA Basketball. In May, Skims launched a new marketing campaign centered around five of the WNBA's top stars.
Over the past few years, Skims has raised a staggering $701 million across five funding rounds, with its most recent round in July 2023 bringing in an impressive $270 million and setting the brand's valuation at a cool $4 billion. At the time, Skims projected to reach net sales of $750 million in 2023. Let's keep our fingers crossed!
So, that's the tea – Skims is running wild, and there's no stopping them now! Stay tuned for more updates on their retail expansion. The future's looking shapely, Skims fans! 😉
- Skims recently announced plans for expansion in the retail markets, with additional stores set to open this year and flagship locations in New York and Los Angeles planned for the future.
- The California-based brand's first permanent store, located in Georgetown, Washington D.C., is spread over 3,300 square feet and was meticulously designed by Willo Perron.
- Following in the footsteps of other successful apparel retailers, Skims ventured into brick-and-mortar retail, with new stores opening in Aventura, Florida, Austin, Texas, Houston, and Atlanta this year.
- In a recent move to solidify their commitment to brick-and-mortar retail, Skims appointed Robert Norton as the Chief Commercial Officer in 2023.
- Skims also made its debut in the men's apparel market last October and became the official underwear partner of the NBA, WNBA, and USA Basketball.
- Over the past few years, Skims has raised $701 million across five funding rounds, with its most recent round in July 2023 bringing in $270 million and valuing the brand at $4 billion.
- The brand anticipates reaching net sales of $750 million in 2023, as it continues to expand in the fashion, home, and lifestyle markets, offering everything from athleisure wear to home and garden products.
