Recently, Skims, Kardashian’s billion-dollar shapewear and apparel brand, has acquired Skkn by Kim, marking a strategic move into the beauty, skincare, and fragrance industries.
As part of the deal, Skims will take over Coty’s 20 percent stake in Skkn by Kim, which the beauty conglomerate had purchased for $200 million in 2021. Kardashian’s remaining 80 percent ownership will also transfer to Skims, consolidating the brand’s control over its beauty segment. While financial terms were not disclosed, Coty confirmed that proceeds from the transaction would support its deleveraging strategy and broader brand innovations.
The acquisition signals a new chapter for Skims, which plans to officially enter the beauty market in 2026. “My mission has always been to create products that resonate deeply—whether it’s shapewear and lingerie that empowers or makeup and skincare that transforms,” said Kardashian, Skims’ chief creative officer and cofounder. “Uniting everything under the Skims brand streamlines that vision.”
Jens Grede, CEO and cofounder of Skims, emphasized the brand’s ambition beyond expansion. “This acquisition isn’t just growth. It’s about the strength of our brand and our ability to enter a new category with authority,” he stated.
Skims has been a dominant force in the fashion industry, securing a $4 billion valuation in 2023 after raising $270 million in a Series C funding round. With Kardashian and Grede maintaining a majority stake, speculation continues about a potential initial public offering (IPO) in the near future.
Kardashian originally entered the beauty industry with KKW Beauty in 2017, later expanding into fragrance. However, both brands were shuttered in 2022 as she prepared to relaunch with a more modern and sustainable approach. In partnership with Coty, she introduced Skkn by Kim in 2022—a luxury nine-step skincare system priced at $630—followed by a return to color cosmetics in early 2024.
Meanwhile, Coty remains focused on its majority-owned Kylie Cosmetics brand, led by Kylie Jenner, which has grown by 1.5 times in the past two years. Despite industry speculation about the future of that partnership, Coty confirmed it will continue working with Kylie Cosmetics under a perpetual license.
