Kim Kardashian may reign over Instagram with 344 million followers, but the foundation of her shapewear and loungewear brand Skims is far less flashy. According to CEO Jens Grede, the market has consistently misunderstood what makes the company tick. "They miss that - beyond the celebrity campaigns and the collaborations with Fendi or Dolce & Gabbana or partnership with Nike - what Kim and I really designed is a fabric company first and foremost," Grede said ahead of the brand's London flagship opening on Regent Street.
Grede insists the business is built on soft lounge, not gimmicks. He points to the Everyday Cotton line as proof: it delivers Skims' signature fit and comfort in natural cotton. "The press tries sometimes to talk more about the thing that's more visually gratifying," he said. "What they miss is the fact that the business is built on soft lounge." That tactile focus is driving a major physical retail push. With 80 percent of the category bought in stores, Skims now has 27 company-operated doors plus partner locations in Mexico and the UAE, and plans to hit 55 by year's end - with a goal of more than 100 by 2027. Next up: Seoul, Delhi, and Mumbai.
Despite a $5 billion valuation and perennial IPO chatter, Grede isn't rushing to Wall Street. "Good companies have good options," he said. "We don't feel that we have any pressure to go public right now." Instead, Skims is carving its own niche between intimates and lounge, much like Moncler defined fashion ski wear or Lululemon claimed yoga. "The brand has been somewhat underestimated for a long period of time," Grede added. "At first they said it was Kim, then online, then shapewear, then underwear. Now they're asking if we can do stores. We're answering that question with every new door we open."
Originally reported by WWD