By Carolyn Manrique
Mar 27, 2024, 11:31 AM EDT
Kim Kardashian’s company is preparing to have a luxurious store on Fifth Avenue in New York. Everything seems to indicate that it will be ready in 2025, since the first big step has already been taken: renting the property where the project will be developed.
Skims, an American shapewear and clothing brand co-founded by Kim Kardashian, Emma Grede and Jens Grede, will now have a store in the same five-story mansion where until a few years ago there was a Versace store.
The best part? The Skims team managed to rent the prime location property for a 70% discount. According to a Fitch Ratings report cited by ‘Crain’s’, Skims will pay less than $200 per square foot, while Versace paid $770 per square foot.
This new step by the brand is not surprising, we must remember that in 2023 the company was valued at more than $4 billion dollars.
On the other hand, it must be said that the property reduction seems to be related to the departure of many big brands in the area. Versace, for example, left the house in 2018, four years before his contract officially expired.
The brand’s design team will have to adapt to the original beauty of the Beaux Arts-style mansion. Inside, the vaulted ceilings, large windows and marble surfaces stand out.
Remember that Kardashian founded Skims in 2018. As its own website says, it is: “a solutions-oriented brand creating the next generation of underwear, loungewear and shapewear.”
It wasn’t until last year that the company began moving to create physical brand spaces, it is said that this year it will open the first store in Los Angeles (in West Hollywood, Sunset Boulevard), and, as said before, by February By 2025 the one on Fifth Avenue would be inaugurated.
“Kim and I can imagine a future where in a few years there will be a Skims store anywhere in the world there is an Apple store or a Nike store,” Jens Grede, co-founder and CEO of Skims, said last year. past.
Keep reading:
• Kim Kardashian is criticized for commenting on Kate Middleton’s disappearance
• Kim Kardashian’s son fulfills an “absolute dream” by going out onto the field with Messi [Video]
• Kim Kardashian shows off stylized curves in a miniskirt and bralette