Skims founder Jens Grede addresses those IPO rumors

Skims founder Jens Grede has confirmed that IPO plans are on hold—for now at least, according to a new interview with WWD.

TechCrunch reported in August that investors were hoping the retail giant, which has a $4 billion valuation, goes public, and Knowledge reported that the earliest it could do so would be in the first half of 2025. But speaking to WWD, Grede clarified. the company’s IPO plans.

“We have never made a decision to go public,” he told the media. “What I once said was probably a mistake, I once said that we should be a public company. And we have institutional investors, so, at some point, we need to give them a choice,” he continued. “But we have long-term investors. They were incredibly supportive of our journey. And I think as humans, we can both say we’re enjoying our time right now. We might do that position in the future, but that’s not what I’m thinking about.”

In other words, keep an eye out for those IPO filings.