Adore Me Acquired By Victoria’s Secret In A Deal That Values ​​The Company At Least $400M – AlleyWatch

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Adore Me, a digitally-native direct-to-consumer lingerie and apparel brand, has been acquired by Victoria’s Secret. The transaction is structured as an all-cash transaction, with an initial $400M payout with an additional $300M in cash earnings over the next two years based on performance. “We have grown our business significantly over the past decade, and are excited to bring our technology, buying experience, inclusive assortment, brand and team to join us in the next phase of Victoria’s Secret growth and customer journey transformation ,” Morgan Hermond, Founder and CEO of Adore Me.

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We have grown our business significantly over the past decade, and are excited to bring our technology, buying experience, inclusive assortment, brand and team to join us in the next phase of Victoria’s Secret growth and customer journey transformation. — Morgan Harmond

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Founded in 2011 by Gary Bravard and Harmond, Adore Me has raised a total of $57.8M in reported equity funding. Backers in the company include SOSV, FJ Labs, Upfront Ventures, Fabrice Grinda, TA Ventures, White Star Capital, Moose Partners, Bliss, Jaina Capital, Christian Adler, #Adam Ventures, Cyril Vermeulen, Redhills Ventures, Russia Expansion and Jean- . Mary Truell.

“I am delighted to announce this transaction, welcoming Adore Me to the VS & Company family. Adore Me is a technology-led, digital-first innovator in the intimate category that brings us to Victoria’s Secret and Pink customers. Will help bring a different experience,” commented Martin Waters, CEO of Victoria’s Secret & Company. “This acquisition will be a significant accelerator as we drive growth and modernize our company foundation with an entrepreneurial mindset that puts technology at the forefront of everything we do. Incredible at Adore Me By partnering with the team, we will move much faster into the future.”

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I am extremely pleased to announce this transaction by welcoming Adore Me to the VS&Co family. Adore Me is a technology-led, digital-first innovator in the intimate category that will help us bring a differentiated experience to Victoria’s Secret and Pink customers. This acquisition will be a significant acceleration as we drive growth and modernize our company’s foundation with an entrepreneurial mindset that puts technology at the fore in everything we do. By partnering with the incredible team at Adore Me, we will move much faster into the future. — Martin Waters



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