Skims co-founder Jens Grede has confirmed that plans for an IPO are on the back burner—for now at least, according to a new interview with WWD.
TechCrunch reported in August that investors were hoping for the retail darling, last valued at $4 billion, to go public, and the Information 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 plans for an IPO.
“We have never made a decision to go public,” he told the outlet. “All I’ve ever said and maybe that was a mistake, was I said at some point we deserve to be a public company. And we have institutional investors, so of course, at some point, we need to offer them optionality,” he continued. “But we have long-term investors. They’re incredibly supportive of our journey. And I think as people, both of us would say we are enjoying our time right now. We might make that position in the future, but that’s not what I’m thinking about.”
In other words, still keep an eye out for that IPO filing.