Skims Bets Big on Mexico and Global Expansion

Skims, the shapewear and apparel brand co-founded by Kim Kardashian in 2019 with Jens and Emma Grede, continues to prioritize international expansion, with Mexico remaining a crucial market. The brand currently operates four retail locations within the country, a significant investment demonstrating its commitment to the region.

What sets Mexico apart within Latin America is its unique position as the sole market where Skims maintains both a physical retail presence and a robust digital storefront. This dual approach is managed through a partnership with Retail Fashion Group, a subsidiary of Grupo Sordo Madaleno, highlighting a strategic local operation.

The latest addition to Skims’ Mexican footprint is a store located in Los Cabos, specifically within the Animal Village shopping centre. This location is part of a broader strategy to capitalize on the centre’s ambition to become a leading fashion and luxury destination in the area. Existing stores are strategically placed in high-traffic locations including Artz Pedregal and Antara in Mexico City, and Andares in Guadalajara.

Skims’ expansion isn’t limited to Mexico; the company is actively growing its physical retail presence globally. Currently operating approximately 20 stores in the US, the recent opening of its first Dubai location signals a continued shift towards a more substantial brick-and-mortar strategy. This focus on physical stores is expected to remain a key priority alongside ongoing category diversification.

The brand’s success is built on a foundation of inclusivity, offering a wide range of sizes and focusing on core products like shapewear, underwear, and minimalist clothing essentials. This approach has resonated with consumers and fueled substantial growth, recently bolstered by a significant funding round.

In November, Skims secured $225 million in new funding, elevating the company’s valuation to $5 billion. These funds are earmarked for strategic initiatives including expanding its existing product lines – shapewear, sportswear, and general apparel – as well as strengthening its retail infrastructure and accelerating its international expansion plans, further solidifying its position in the market.