Emma Grede and her husband Jens, as well as Kim Kardashian, co-founded the clothing line Skims. Grede, the first Black woman investor on Shark Tank, owns 8% of Skims, according to Business Insider. The brand, which was founded four years ago, has become a unicorn four times over. According to the fresh York Times, the company’s value increased when it secured $270 million in a fresh investment round, up from the $3.2 billion estimate investors gave it last year.
When the firm went public in 2019, it immediately made $2 million in revenue. The brand began with shapewear but has since expanded to include swimsuits and loungewear. After fierce protests about the cultural appropriation of the term, which related to a traditional Japanese form of apparel, the brand changed its name to Skims within days.
According to this press release, the National Basketball Association (NBA) has taken notice of the company’s performance and established a multiyear collaboration, making SKIMS the official underwear partner of the NBA, the Women’s National Basketball Association (WNBA), and USA Basketball.
SKIMS will also receive media exposure as part of the collaboration, including on-court virtual signage during NBA and WNBA national broadcasts, as well as the leagues’ official social and digital channels.
“I am incredibly proud of SKIMS partnership with the NBA, as it is a reflection of SKIMS growing influence on culture,” said Kardashian, Co-Founder & Creative Director, of SKIMS. “Together, SKIMS and the NBA will connect people of all backgrounds through fashion, sport, and talent, and I look forward to seeing the partnership thrive.”
Jens Grede, co-founder and CEO of the brand, commented, “the NBA’s modern approach and significant impact on pop culture, entertainment, and fashion is unparalleled in sports. Our partnership marks a remarkable opportunity for SKIMS and the NBA to work together on what it means to engage the next-generation of fans through basketball.”
According to NBA Commissioner Adam Silver, Skims has become one of the NBA’s most culturally influential brands. “We look forward to bringing NBA fans and SKIMS users unique experiences, new offerings and premium products through our partnership,” the NBA commissioner stated.
According to the agreement, SKIMS, the NBA, the WNBA, and USA Basketball will use the power of basketball to generate excitement and demand by showing up in unexpected places. According to Silver, fans will see the relationship come to life during future big events such as the NBA All-Star Game and the NBA In-Season Tournament.