Victoria’s Secret will acquire DTC lingerie company Adore Me for $400 million in cash, the intimates giant said Tuesday.
The deal has been unanimously approved by the Victoria’s Secret board and is expected to close by the end of January, subject to customary closing conditions and regulatory clearances, according to a company press release.
Victoria’s Secret cited Adore Me’s growth potential, inclusivity, “Home Try-On” service, technology, monthly subscription options and B Corp. status as elements that will “improve the Victoria’s Secret and Pink customer shopping experience and accelerate the modernization of [the company’s] digital platform.”
Source: Retail Dive
Omni Talk is the retail blog for retailers, written by retailers. Chris Walton and Anne Mezzenga founded Omni Talk in 2017 and have quickly turned it into one of the fastest growing blogs in retail. 