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Victoria’s Secret completes acquisition of intimates brand Adore Me

By Prachi Singh



Image: Adore Me

Victoria’s Secret & Co. (VS&Co) has completed the acquisition of 100 percent of Adore Me, Inc., a digitally-native intimates brand.

The company said that this acquisition creates meaningful sales and profit upside opportunities for VS&Co, including the opportunity to leverage Adore Me’s expertise and technology to continue to improve the Victoria’s Secret and Pink customer shopping experience and accelerate the modernization of the company’s digital platform.

Adore Me is expected to generate an estimated 250 million dollars of profitable sales in their most recently completed fiscal year 2022.

Commenting on the completion of Adore Me acquisition, Martin Waters, CEO, Victoria’s Secret & Co. stated: “In Adore Me, we have acquired a business and a team that will help us deliver improved, elevated and differentiated experiences for Victoria’s Secret and Pink customers.”

“From a financial point of view, we firmly believe the standalone Adore Me business can continue their industry-leading sales growth at operating margin rates that are similar or accretive to the VS&Co operating model,” Waters added.

Goldman Sachs acted as financial advisor to VS&Co and Kirkland & Ellis provided legal counsel. Credit Suisse acted as financial advisor to Adore Me and WilmerHale provided legal counsel.

Adore Me
Victoria's Secret