Victoria's Secret: To invest in 'Frankies Bikinis'

31 March 2022, Mumbai:

Victoria's Secret is investing $ 18 million in a California swimsuit company.

Victoria's Secret, the world's largest lingerie shop, has announced that it will invest $ 18 million in a minority ownership in California swimsuit line Frankies Bikinis.

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The lingerie company had opted to quit the swimsuit category a few years ago; but, after failing sales, it decided to return the category three years ago.

Victoria's Secret is now investing in Frankies Bikinis, not just to expand its swimsuit line, but also to continue its recent pivot toward messages of female empowerment.

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Despite recent difficulties, the US fashion shop has been a global leader in the lingerie area, which might aid Frankies Bikinis' expansion.

"Our investment in Frankies Bikinis is a continuation of our efforts to grow collaborations with culturally relevant products founded by women entrepreneurs," stated Martin Waters, CEO of Victoria's Secret.

Victoria's Secret, founded in 1977, is an American lingerie, apparel, and cosmetics company recognised for its high-profile marketing and branding.

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CREDITS: BIZ Journal & Apparel Resources.