Skims Acquires Skkn by Kim, Expands into Beauty

Kim Kardashian's brand Skims has acquired both her majority stake and Coty's minority stake in SKKN by Kim, enabling the shapewear company to expand into beauty, skincare, and fragrance. This strategic move, announced on March 21, aims to unify Kardashian's fashion and beauty empire under the Skims brand, allowing for a broader product portfolio. Skims CEO Jens Grede emphasized that this acquisition represents not just growth but also the brand's strength and authority in entering new categories. The acquisition follows Kardashian's previous efforts to buy back the stake sold to Coty in 2021, reflecting a shift towards autonomy in her business operations. As a result of this merger, Skims plans to launch new beauty and fragrance products by 2026. Coty, meanwhile, intends to use the proceeds from the sale to reduce debt and invest in its remaining brands.