Skims is now valued at $5 billion after announcing Wednesday that it secured a $225 million in a funding round.

The brand, which was founded in 2019 by Kim Kardashian and Jens Grede, said that it plans to use the cash injection to expand its brick and mortar presence globally — the brand currently owns and operate 18 stores within the United States and two franchise doors in Mexico.

Skims said it expects to top $1 billion in net sales this year. A previous funding round valued the company at $4 billion in 2023.

The company also shared that it will use this infusion to invest in product innovation and category expansion. The brand recently made a deeper investment into sportswear with NikeSkims, a multi-year partnership with Nike that launched in September.

The funding round was led by Goldman Sachs Alternatives with participation from BDT & MSD Partners’ affiliated funds

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