Who owns Skims brand? This question has been on the minds of many fashion enthusiasts and business observers alike. Skims, a rapidly growing brand known for its inclusive and sustainable approach to women’s underwear, has captured the attention of consumers worldwide. In this article, we will delve into the ownership story of Skims and explore the factors that have contributed to its success in the competitive lingerie market.
Skims was founded in 2019 by Harvard Business School graduates, Shannon and Sophia Amoruso. The brand was born out of Shannon’s personal struggle to find comfortable and affordable underwear that catered to all body types. Recognizing the lack of diversity in the underwear industry, Shannon and Sophia set out to create a brand that would offer a wide range of options for women of all shapes and sizes. Today, Skims has become a symbol of inclusivity and sustainability, thanks to its commitment to using eco-friendly materials and manufacturing processes.
The ownership of Skims has evolved since its inception. Initially, Shannon and Sophia owned the company, but as the brand grew, they sought to secure additional funding to expand their operations. In 2020, they raised $120 million in Series B funding, which included investments from several notable venture capital firms. This round of funding brought in new investors, including Sequoia Capital, which became one of Skims’ primary stakeholders.
The involvement of Sequoia Capital in Skims’ ownership has played a significant role in the brand’s rapid expansion. The firm has a track record of investing in successful startups and has been instrumental in the growth of other fashion brands, such as Warby Parker and Allbirds. With Sequoia Capital’s backing, Skims has been able to accelerate its product development, marketing efforts, and international expansion.
Despite the changes in ownership, Shannon and Sophia remain at the helm of Skims, ensuring that the brand’s core values and mission are maintained. Their dedication to inclusivity and sustainability has not wavered, and the company continues to make strides in these areas. Skims has become a leader in the sustainable fashion industry, setting an example for other brands to follow.
In conclusion, the ownership of Skims brand is a testament to the power of innovation, perseverance, and a commitment to social responsibility. Shannon and Sophia Amoruso’s vision for a more inclusive and sustainable underwear industry has resonated with consumers and investors alike. As Skims continues to grow, its success story serves as an inspiration for entrepreneurs and businesses looking to make a positive impact on the world.
