Skims, a shapewear brand co-founded in 2019 by media personality and entrepreneur Kim Kardashian, has rapidly evolved into a prominent name in the apparel industry. Originally launched to fill a gap in the shapewear market, Skims caters to diverse body types, skin tones, and sizes, ranging from XXS to 5XL. The brand has expanded its product line to include not just shapewear but also undergarments, loungewear, activewear, and, more recently, men’s wear. Emphasizing inclusivity and body positivity, Skims has garnered considerable attention and success, partly due to Kardashian’s social media expertise and influencer marketing strategies. As of 2023, Skims has achieved a valuation of $4 billion, reflecting its significant impact on the market.
Skims’ Partnership with the NBA, WNBA, and USA Basketball
In a significant expansion of its brand reach, Skims has been named the official underwear partner of the NBA, WNBA, and USA Basketball. This collaboration, announced in a release to Retail Dive, marks a milestone in the brand’s journey, aligning it with some of the most influential organizations in the sports world.
While specific details of the partnership remain under wraps, it is expected to be prominently featured in high-profile events like the NBA All-Star Game and the NBA In-Season Tournament. Skims is set to gain substantial media exposure through on-court virtual signage during national broadcasts and across the leagues’ official social and digital platforms.
This partnership aligns with the NBA’s recent trend of increasing revenue through diverse sponsorships, with the league’s sponsorship revenue reaching $1.4 billion in the 2022/23 season. NBA Commissioner Adam Silver highlighted the cultural influence of Skims and expressed enthusiasm for the unique experiences and premium products this collaboration will bring to NBA fans and Skims users.
Fashion Meets Sports: A Growing Trend
The Skims-NBA partnership underscores a broader movement in the fashion industry, where brands are increasingly intersecting with sports to create lifestyle-oriented products. Apparel industry analyst Kristen Classi-Zummo notes this trend, citing examples like Ralph Lauren and Tommy Hilfiger, which have aligned with sports teams and leagues that resonate with their consumer base. The growing popularity of soccer in the U.S. and the involvement of major brands in the 2024 Olympics sponsored by LVMH signify just the beginning of these dynamic collaborations.
Skims’ Expansion into Men’s Wear
Coinciding with the NBA partnership, Skims has also announced its foray into the men’s underwear market, launching a collection of briefs, boxers, tanks, and T-shirts. This expansion comes as the men’s underwear market in the U.S. reports a 2% growth, becoming a $5.7 billion industry. In line with this launch, Skims has signed endorsement deals with high-profile athletes like NFL player Nick Bosa and NBA star Shai Gilgeous-Alexander.
The brand’s venture into men’s wear is a strategic move, building upon its successful track record in the women’s shapewear and clothing market. Skims’ growth trajectory has been impressive, with the company projecting net sales of $750 million for 2023, a significant increase from $500 million in 2022.
Founded with a vision to offer shapewear that caters to a wide range of skin tones and body types, Skims has rapidly ascended in the fashion world. Its journey from a direct-to-consumer brand to a globally recognized label is marked by strategic marketing and product diversification. The brand has effectively leveraged influencer marketing and Kardashian’s social media presence, contributing to its substantial following and market influence.
Skims’ success is also reflected in its valuation, which reached $4 billion following a Series C funding round that raised $270 million. This funding is earmarked for further product innovation, category expansion, and physical retail development. As Skims continues to diversify its offerings and collaborations, it stands as a testament to the evolving landscape of fashion and lifestyle branding.