Lingerie giant Victoria’s Secret & Co. has acquired a minority interest in women-founded beachwear brand Frankies Bikinis.
The Califonian label, founded in 2012 by Francesca Aiello, is widely known for its Malibu aesthetic, translating the laid back vibe of the beachy region into its apparel and identity.
In a release, Victoria’s Secret CEO, Martin Waters, said: “We are excited to be partnering with Francesca and the team at Frankies Bikinis. 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.”
The company has invested 18 million dollars, which it has said should not have a material impact on its previously communicated first quarter 2022 outlook.
On its motivation for the acquisition, Waters commented: “Our investment in Frankies Bikinis is a continuation of our efforts to expand partnerships with culturally relevant brands founded by women entrepreneurs.”
It is this mission that the company has continued to embed into its strategy, with its most recent initiative also centred around bolstering women-led brands through a string of investments.