The brand plans to open an outlet at 3300 M Street NW.
Kim Kardashian's lingerie brand Skims is preparing to open its new shop in Georgetown, a popular Washington DC neighborhood. The company has filed a petition to this effect with the local government.
The brand plans to open an outlet at 3300 M Street NW. Intermix previously operated an Intermix shop there, and the Sandro brand currently leases the space. Following the application, Skims awaits the authority's decision on the conceptual and agreed-upon historic review.
Skims' Strategic Positioning Among Georgetown's Fashion Landscape
The approximately 3,500 square foot shop could open surrounded by Brandy Melville, Club Monaco and Alice + Olivia brands. Kenneth Park Architects applied to open the shop on behalf of Skims.
Skims' Impressive Valuation and Funding Round
The Skims brand is valued at $4 billion after its latest round of funding. The company previously raised $270 million led by Wellington Management with participation from Green Oaks Capital Partners, D1 Capital Partners and Imaginary Ventures.
Investment Plans and Product Expansion for Skims
The company will use the investment raised to open retail shops, expand its assortment and produce new products. Skims has already presented its first menswear collection in autumn and has also entered into a partnership to sell underwear with the NBA.
Skims' Aggressive Push into Physical Retail: Recent Store Openings
The brand is also strengthening its position in the physical retail market. In spring 2023, Skims opened a shop in Rockefeller Centre in New York City, leasing space in the flagship Saks Fifth Avenue shop. In addition, the summer saw the opening of the first Skims outlet in London, which kicked off the brand's European expansion.
16 NOVEMBER 2023, USA
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