Skims, the American shapewear and clothing brand co-founded by Kim Kardashian, Emma Grede, and Jens Grede, is set to open its first permanent retail stores in 2024. This move marks a significant shift in the brand's retail strategy, which has primarily been direct-to-consumer since its inception in 2019. The brand's decision to venture into physical retail is a strategic move that could potentially broaden its customer base and enhance its brand visibility.
The flagship store is slated to open in Los Angeles in the first half of 2024, followed by a second opening in New York. The LA shop will be located in West Hollywood on Sunset Boulevard, a prime location near popular streetwear stores such as Supreme and Kith. The company also plans to open at least four more stores next year and speed up expansion once those are in place. Domestic markets that attract regional tourism, including Dallas, Atlanta, and Miami, are being considered for these new locations.
Skims' retail strategy is not just confined to the US. The company is also considering international flagships after successful tests in cities like Paris and Hong Kong. With 20 percent of Skims customers coming from abroad, international expansion could significantly boost the brand's global presence.
"Skims' decision to open permanent retail stores is a strategic move that could potentially enhance its brand visibility, broaden its customer base, and boost its sales. It will be interesting to see how this new chapter in its retail strategy unfolds,"Retail Expert, Jeanel Alvarado.
"The brand's retail strategy also includes collaborations with other brand, such as the luxury brand Fendi in November 2021, generating a lot of buzz for both brands. The collaboration was so popular it reportedly brought in more than a million dollars in sales within minutes and most of the collection sold out within 24 hours"
Alvarado added, "Skims' retail strategy also includes product diversification. The brand started with shapewear bodysuits and has since expanded into categories like pyjamas and swimwear. Underwear now accounts for a sizable chunk of its business, and it’s planning to launch a men’s line in October."
The decision to open physical stores aligns with the brand's mission to provide solutions for every body. Skims continues to revolutionized the shapewear industry by making it more inclusive, fashionable, and comfortable. This retail expansion will boost the brand's growth, with Skims expecting to achieve net sales of about $750 million in 2023, up from nearly $500 million last year. The brand's focus on body positivity and inclusivity has resonated with a diverse customer base of Gen Z and Millennials, contributing to its popularity, growth and success.
