Growing in mainstream appeal
The NBA deal cements Skims’ standing as a fast-growing apparel brand that is catapulting to mainstream awareness with consumers. Kardashian first launched the company in 2019 when she noticed a dearth in the shades of shapewear available in the market—nothing quite matched her own skin tone, and she was forced to cut and dye and sew her own versions of existing products. Other consumers likely had similar issues because Skims quickly took off; the Los Angeles-based venture is now valued at $4 billion.
Earlier this year, the company raised $270 million in a Series C funding round led by Wellington Management. The new money is expected to fund Skims’ new product offerings and also help with its in-person expansion efforts. The terms of the NBA's new investment were not disclosed.
Skims, which hosted a pop-up shop in New York over the summer, is planning to open its own brick-and-mortar flagship in Los Angeles in 2024 and already sells at certain Nordstrom and Saks Fifth Avenue locations in addition to online.
Kardashian, who works as Skims’ creative director, in an interview said the brand “has grown so much and to launch men’s in this big way and with this big partnership will be really important for our brand. To be able to partner with, to me, the all-time ultimate company in the world, the NBA, and knowing they see our vision to have the official undergarments, is magical and a dream come true.”
The deal took roughly six months to come to fruition following Skims’ initial outreach to the league. As the official underwear provider, Skims will show up in marquee events including the NBA and WNBA all-star games, the NBA In-Season Tournament and the USA Basketball domestic exhibition tour, according to the NBA. In addition, Skims will have on-court virtual signage during broadcasts and be included on the NBA’s social and digital accounts.
Read more: How the NBA is marketing its In-Season Tournament
Skims plans to make use of the partnership’s media opportunities, according to Jens Grede, its co-founder and CEO, who formerly founded Wednesday, the ad agency. He said that any creative marketing done to support the deal will all be done internally at Skims; however, the brand, which also works with Horizon on media duties, is also in talks with some outside creative agencies.
“Fans will see the partnership come to life,” he said, adding that “The NBA clearly has a platform. If you want to reach a critical mass of men in the U.S., there is no substitute in sports.”