U.S. lingerie giant Victoria’s Secret has revealed its plans to acquire Adore Me, a popular digitally-native intimates brand. This move is part of Victoria’s Secret’s strategy to establish a stronger presence in the online undergarment market. By harnessing Adore Me’s expertise and technology, Victoria’s Secret aims to improve the shopping experience for its customers and modernize its digital platform.

According to Victoria’s Secret, the acquisition of Adore Me will act as a “growth vehicle” and grant access to a consumer base that complements its existing customer demographic. To make this acquisition possible, Victoria’s Secret will initially pay $400 million in cash, followed by additional monetary considerations based on the performance of Adore Me and the attainment of specific growth and synergy targets over a two-year period.

Martin Waters, CEO of Victoria’s Secret & Co., views Adore Me as a leader in the intimates category, driven by technology and digital innovation. He believes that this acquisition will play a crucial role in accelerating Victoria’s Secret’s growth and modernizing the company’s foundation. By partnering with Adore Me, Victoria’s Secret aims to adopt an entrepreneurial mindset that prioritizes technology in all aspects of its operations.

Adore Me, founded in 2011 and headquartered in New York, is an exclusively online intimates brand with 1.2 million active customers. It differentiates itself from competitors through its proprietary technology platform, which provides unique customer experiences such as ‘Home Try-On’ and monthly subscription options. In addition, Adore Me focuses on inclusivity by offering an expanded range of sizes for its products. The company is also B Corp-certified, underscoring its commitment to social and environmental responsibility.

Morgan Hermand, founder and CEO of Adore Me, expressed enthusiasm about joining Victoria’s Secret’s journey of growth and customer transformation. Adore Me’s technology, purchasing experiences, inclusive product range, brand, and team will contribute to the next stage of Victoria’s Secret’s development.

This acquisition follows Victoria’s Secret’s recent investment in the swimwear brand Frankies Bikinis. These strategic moves demonstrate Victoria’s Secret’s dedication to diversifying its portfolio and expanding its market reach.

Overall, Victoria’s Secret’s acquisition of Adore Me signifies a significant milestone for both entities. It showcases Victoria’s Secret’s determination to enhance its digital capabilities, while offering Adore Me the opportunity to leverage the resources and expertise of a renowned lingerie brand. As the lingerie industry continues to evolve, this partnership has the potential to reshape the online intimates market and provide customers with innovative and inclusive shopping experiences.

Useful links:
Victoria’s Secret Official Website
Adore Me Official Website