Skims, a brand created by Kim Kardashian that specializes in underwear, loungewear and shapewear, has expanded its retail reach through a partnership with luxury department store Saks Fifth Avenue to better meet consumer demand.
Skims has partnered with Willo Perron of Perron-Roettinger to create a store on the fifth floor of Saks New York featuring Skims’ signature rounded-edged fixtures, inclusive mannequins, and a shapewear wall, reflecting the brand’s style.
In celebration of the launch, Skims created a visual display in the atrium of Saks New York featuring digital screens showcasing models walking through the streets of New York City, wearing Seamless Sculpt shapewear.
Through the partnership, Skims is now available on Saks.com and at the New York flagship store. The company intends to launch in other locations in the U.S., including Bal Harbour in Florida, Houston and Boston, throughout the quarter. Skims’ signature collections such as Fits Everybody, Seamless Sculpt, and Cotton, as well as Soft Lounge and Boyfriend styles, are among the product range.
The move aims to not only make its products available to Saks customers, but it also aims to provide another touch point and access point for Skims loyalists.
Skims has transcended its origins as a brand solely backed by Kim Kardashian or an influencer-driven brand, thanks to its strategic marketing efforts. The brand has collaborated with emerging and niche music artists, partnered with the Special Olympics, and enlisted celebrities such as Snoop Dogg, Brooke Shields, and Chelsea Handler as brand representatives. These initiatives, as well as the expansion of Skims overseas, have contributed to the brand’s 2022 valuation of $3.2 billion and has helped Kardashian attain billionaire status.
At the time of the evaluation, Skims had seen a 90% increase in sales, reaching nearly $275 million in 2020 and anticipated sales for 2021 to reach $400 million.
“We see an opportunity with Skims to create our own category in retail, just like how we believe Lululemon and Starbucks created their own categories in their respective areas,” Kardashian’s business partner, CEO Jens Grede, said at the time. “That’s really why we’re doing this, to make sure we’re best prepared for the future.”
That’s a narrative that seems promising to Saks. According to Dayna Ziegler, the senior vice president and general merchandise manager of women’s contemporary and modern ready-to-wear at Saks, “Our customers are always looking for the best in fashion, and we are excited to offer Skims as a new option.”
But the partnership is also beneficial to Skims. In an interview with Forbes, Grede discussed the enormous demand for the brand. In addition to the 2.6 million customers Skims serviced in 2022, who fueled 12.5 million items sold, the company is looking to address its ever-growing waitlist. Grede notes that last year alone, Skims witnessed over 11 million waitlist signups.
“Our viral Soft Lounge Long Slip Dress alone sold over a quarter of a million units, and on top of that had over a quarter of a million waitlist signups. We are finally getting into a better position, but it has taken a long time to get the supply chain to meet the challenge,” Grede said.
“Last year’s launches like Swim and Bras had a similar reception, with the most popular styles selling out within minutes. Many people think it is a strategy to be out of stock, it really isn’t; we hate to disappoint anyone out there. Good news is that we have never been in a better position than today and most of our customer favorites like Seamless Sculpt Bodysuits, Fits Everybody Bralettes, and Soft Lounge Dresses are finally in stock.”
Grede noted that the brand is looking expand its retail footprint on a global level. “Fifteen percent of our sales are from outside the U.S., and we have done nothing to support our international growth,” he said.
“It is a testament to Skims being a part of popular culture and that culture is today global. The company is set to grow over 50% in 2023, so we have a lot of work to do to support our growing customer base. This will for sure include both our own stores as well as, for now, secret new categories.”
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