Kim Kardashian's shapewear line SKIMS has opened its first flagship store in New York. It is situated at 647 Fifth Avenue, close to the famous Rockefeller Centre and the Cartier Mansion, which previously belonged to Versace. The new flagship is a four-story, 6,570-square-foot boutique encompassing a ground floor and three floors above, designed by Rafael de Cárdenas, Ltd.
It features the brand's minimalistic design approach, accentuated by high-gloss fascia and a nude color palette. Notably, a 15-foot nude sculpture by Vanessa Beecroft is positioned at the entrance, giving a pretty artistic touch to the store door.
First Floor: Specializing in women's wear and leisure wear.
Mezzanine Level: A relaxed area that is perfect for leisure and people-watching.
Second Floor: Offers bra, brief, lingerie, and shapewear.
Top Floor: Showcases the newest collections, such as the collaboration with The North Face, and features men's wear and accessories.
Besides the general store, there is a showroom and area for VIP customers and a working space for approximately 175 employees. The flagship also plans on stocking limited edition items that would change monthly, giving the store that extra edge during the festive season.
Strategic expansion
This is in line with the company's plan to increase the firm's physical store footprints. As 85% of its sales happen on the online platform at the moment, the company's co-founder, Jens Grede, sees an option for growing sales points in the U.S. However, after this flagship store's release, SKIMS intends to open more stores in other large cities and large metros in the future.
Grede was quoted as saying by Stupid Dope:
“Next year, there’s a big focus on putting inventory in Europe and really servicing Europe and the Middle East because we’re seeing such a large share of our traffic interest there.”
SKIMS brand evolution
SKIMS started in 2019 and has rapidly expanded, and it is currently at a $4 billion valuation after just five years. Typically known for shapewear, the company has, over time, diversified into loungewear and other type of apparel. One good example is the recent partnership with The North Face, which points to SKIMS' ever-evolving fluidity of trend prediction.
Kardashian expressed her excitement about the New York flagship and was quoted by CR Fashion as saying:
“This flagship is a dream realized for Skims. We’ve created a space that perfectly embodies our brand and elevates the customer experience. New York City has always held a special place in my heart, and opening our first flagship here during the holidays is truly magical.”
Future prospects for SKIMS
Trending
In the coming years, SKIMS will be looking for an opportunity to expand to different countries, especially Europe and the Middle East. There is also much talk today about the possibility of an IPO, which raises another dimension to the brand's future development prospects. However, there are no concrete plans to do so yet.
“We have institutional investors, so of course, at some point, we need to offer them optionality. But we’re enjoying our time right now,” Grede said.
Reply
