In a new interview with WWD, Skims co-founder Jens Grede admitted that IPO plans are on the back burner, at least for now.
TechCrunch reported in August that investors were expecting the retail darling, which was last valued at $4 billion, to go public, and Information said it could go public in the first half of 2025 at the earliest. It was reported that it would happen. However, in an interview with WWD, Grede clarified. Company IPO plans.
“We have never decided to go public,” he told the media. “What I've said all along, and maybe I was wrong, is that at some point we deserved to be a public company. And we have institutional investors. “So, of course, at some point we need to offer options to institutional investors,” he continued. “But we have long-term investors. They've been incredibly supportive of our journey. And as humans, we're both having a good time right now.” I think I could say that I might have that position in the future, but that's not what I'm thinking of.”
In other words, keep an eye on the IPO filing.