What's Happening?
Skims, the shapewear brand led by Kim Kardashian, has appointed Robin Gendron, a former executive at Michael Kors, as its first president for Europe, the Middle East, and Africa (EMEA). Gendron, who spent 15 years at Michael Kors and most recently served as president of EMEA, will oversee Skims' expansion in the region. This includes the launch of standalone stores in Dubai and London, with the London store set to open on Regent Street, a prominent shopping district. Skims plans to enter several retailers across Switzerland, Turkey, and Scotland, including Swiss department store Globus and luxury chain Beyman in Turkey. The company has high expectations for rapid scaling, supported by the launch of its first regional warehouse earlier this year.
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Why It's Important?
The appointment of Robin Gendron marks a significant step in Skims' aggressive global expansion strategy. By tapping into Gendron's expertise, Skims aims to navigate complex markets and establish a strong presence in the EMEA region. This move is crucial for the brand as it seeks to capitalize on the growing demand for shapewear and expand its market share internationally. The expansion into new markets like Dubai and London, along with partnerships with established retailers, positions Skims to compete with other global fashion brands. The success of this expansion could lead to increased brand recognition and revenue growth, benefiting stakeholders and potentially influencing trends in the fashion industry.
What's Next?
Skims is set to open 16 new locations in the U.S. this year, including a flagship store in Chicago, bringing its domestic footprint to 22 stores. In Mexico, five locations are planned to open this fall through a franchise partnership. The brand aims to enter seven new markets over the next few months, indicating a continued focus on global growth. As Skims expands, it will likely face challenges related to market adaptation and competition. The company's ability to successfully integrate into diverse retail environments and meet consumer expectations will be critical to its long-term success.
