Victoria’s Secret completes acquisition of Adore Me
Victoria’s Secret & Co has completed its acquisition of the Adore Me online lingerie retailer.
In a statement, Victoria’s Secret said it will use Adore Me’s digital expertise to continue to improve the Victoria’s Secret and Pink customer shopping experience and accelerate the modernisation of its digital platform.
Founded in 2011, Adore Me generated an estimated $250 million in profitable sales in its most recent financial year.
Martin Waters, chief executive of Victoria’s Secret & Co. said: “From the beginning, we evaluated Adore Me as a two for one opportunity – a technology-led, digital-first innovator in the intimates category and a highly efficient, growing and profitable standalone business model. I am thrilled with the swift completion of the acquisition and excited to welcome the entire Adore Me team into the VS & Co family.”
Victoria’s Secret & Co has a global footprint of nearly 1,350 retail stores in around 70 countries.
