Jens Grede reveals IPO plans are shelved for now

In a recent interview with WWD, Jens Grede, co-founder of Skims, addressed ongoing speculation regarding the company's potential Initial Public Offering (IPO). He clarified that while investors have shown interest in the brand, particularly after its valuation reached $4 billion, there are no immediate plans for an IPO. Grede emphasized that Skims has never officially decided to go public and that the management team is still enjoying their current business trajectory. He reflected on the supportive role of long-term institutional investors, stating that they are focused on the company’s journey rather than on pressing for a public listing at this moment. The potential for Skims to become a public company has intrigued many investors, especially as the brand has gained significant popularity in the retail market. Reports originating from TechCrunch in August hinted that investors were anticipating a public offering in the near future, suggesting dates as early as the first half of 2025. Nevertheless, Grede made it clear that the timeline for going public is not a priority right now, emphasizing the company's commitment to growth and stability over immediate financial movement towards an IPO. Grede's comments bring clarity to the narrative surrounding Skims and its financial future. The company has been well-funded and supported by institutional investors who value a long-term approach to business operations rather than quick public investment return strategies. Grede noted that while at some point, they might pursue an IPO to provide options for their investors, that decision is not on the agenda currently. The current focus remains on the strength of their investment relationships and the overall health of the business. In conclusion, while discussions about the potential for an IPO continue, Jens Grede's comments remind stakeholders and the public alike that Skims is presently prioritizing its growth and solidifying its position in the retail space. For now, the co-founder suggests that an IPO will remain a topic of discussion for the future.