Skims Speeds Up Its Next Entry Into The Beauty And Fragrance Sector

Thanks in large part to the highly publicized figure of American star Kim Kardashian, Skims is doing very well financially. Revenue, estimated at $750 million in 2023, has grown by nearly 50% in one year, and projections for 2025 are around $1 billion.

Collaborations with iconic brands such as Nike in September have only boosted the brand's image, which has established itself as one of the most powerful and desirable in contemporary American fashion.

Starting on Monday, November 10, Diarrha N'Diaye will bring solid expertise to Skims. Before founding Ami Colé in 2021, she worked her way up at L'Oréal, then at Glossier, a leader in digital “clean beauty,” before taking on a key role at Pat McGrath Labs, a cult brand in artistic makeup. These experiences have allowed her to master the codes of both large corporations and independent brands. With Ami Colé, N'Diaye has won over a demanding generation that is fond of light formulas based on natural ingredients, designed to care for and enhance matte and dark skin, a segment long neglected by the industry.

For Skims, this appointment is part of a diversification strategy. Last March, Skims bought back the majority stake held by Kim Kardashian as well as Coty's 20% stake in her former brand SKKN by Kim. The Coty group confirmed a loss of $71.1 million on this sale, after investing heavily in the star's previous line, KKW Beauty, in 2020.

Launched with high ambitions, SKKN by Kim struggled to win over consumers: its nine-step skincare range, priced at over $600, proved difficult to sell, even to the most loyal fans.

Today, Kim Kardashian wants to reposition beauty at the heart of her product offering. The Beauty & Fragrance project is expected to launch in 2026.

But entering the beauty market will not be without its challenges. The sector is showing signs of saturation, with high development costs and an increasingly demanding audience when it comes to sustainability. Skims will therefore need to stand out with good positioning in relation to the highly diverse ecosystem of other brands on the market. The fashion collections have attracted buyers thanks to their minimalist designs, inclusive concept, and nude color palette. The beauty products will need to draw on this DNA, offering responsible, effective, and universal formulas.