Victoria’s Secret takes a stake in Frankies Bikinis
Lingerie giant Victoria's Secret announced of Friday it has acquired a minority stake in U.S. swimwear brand Frankies Bikinis for $18 million.
The California-based Frankies Bikinis said the investment will help the inclusive swimwear label "continue to deliver our signature collections that encourage customers to explore their personal style and create looks unique to themselves that make them feel their most confident," according to a press release.
“Victoria’s Secret and Frankies Bikinis are true heritage brands in my eyes; companies that women tie unforgettable memories to, whether that be a first purchase from the brand or a memory of a time wearing it," said founder and creative director, Francesca Aiello.
"I have such respect for the transformation that Victoria’s Secret has made over the past few years specifically with diversity and inclusivity, and I believe that together we can continue to bring a new wave of fashion into the swimwear industry for all women of all shapes, all sizes, and all backgrounds."
Victoria's Secret said the investment in Frankies Bikinis is a continuation of its efforts to expand partnerships with culturally relevant brands founded by women entrepreneurs.
“We are excited to be partnering with Francesca and the team at Frankies Bikinis," said Martin Waters, Victoria’s Secret CEO.
"She has created an aspirational beachwear brand and trend leader in the swimwear category, with room to grow and extend into new categories and attract new customers in the direct-to-consumer channel."
Founded in 2012 by Francesca Aiello and her mother, Mimi Aiello, Frankies Bikinis is known for its innovative, inclusive, and trend-setting aesthetic.
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