The Unstoppable Rise of Skims: How It Surpassed Victoria’s Secret and Became the New Nike

From 2019 to the top: Skims surpasses Victoria’s Secret in value and redefines inclusive fashion in record time.

Victoria’s Secret, established in 1977, dominated the lingerie market for decades and is now valued at approximately $3.3 billion. However, Skims, founded by Kim Kardashian in 2019, has already surpassed it with a valuation exceeding $4 billion. How did this brand revolutionise such a competitive industry in record time?

Turning a Problem into an Opportunity

The origin of Skims lies in Kim Kardashian’s personal experience. During her red-carpet appearances, Kim wore shapewear to contour her figure but faced two major issues: the lack of shades matching her skin tone and limited comfort. This inspired her to create a brand offering inclusive shapewear in various sizes and colours without compromising on comfort.

Game-Changing Strategies

Skims’ growth isn’t solely attributed to Kim’s fame. Co-founders Emma and Jens Grede devised a strategy centred on:

• Genuine inclusivity: With sizes ranging from XXS to 4X and a palette of nine colours to suit diverse skin tones, Skims redefined accessibility.
• Emotional marketing: The brand’s campaigns feature diverse body types, creating emotional resonance with its audience.
• Controlled scarcity: Limited launches generate urgency and FOMO (fear of missing out).
• Viral collaborations: In 2021, its partnership with Fendi sold out within minutes, generating millions in revenue.

Expansion and Adaptation

During the pandemic, Skims diversified its offerings with loungewear and pyjamas, achieving annual sales of nearly $150 million. Later, it entered the athletic market by becoming the official underwear partner of the NBA and WNBA. Recently, it launched a menswear line featuring Neymar Jr. as ambassador, receiving 25,000 orders in the first five minutes.

A New Nike?

Co-founder Jens Grede compares Skims’ impact to Nike’s in the 1990s. Both brands transcended their niches to become cultural icons. While some doubt Skims can achieve the same scale, its strategy and growth signal ambitious aspirations.

Is the Hype Worth It?

Customers praise Skims’ shapewear for its fit and quality, though other lines like loungewear face criticism over price-to-value ratios. With prices ranging from $40 to $138, Skims positions itself as a premium yet accessible brand.

Born from a personal necessity, Skims has evolved into a cultural phenomenon redefining the comfortwear industry. With global expansion plans and potential IPO rumours, the brand is poised to lead the industry for years to come.