Victoria’s Secret has acquired a minority stake of $18 million USD in swimwear brand Frankies Bikinis.
Frankies Bikinis was founded by mother-daughter duo Mimi and Francesca Aiello in 2012. The joint venture between Victoria’s Secret and Frankie’s Bikinis makes sense, especially considering the famous lingerie brand reintroduced its swimwear category in 2016.
“[Aiello] 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,” said Martin Waters, Victoria’s Secret chief executive, on the company’s website.
He added, “Our investment in Frankies Bikinis is a continuation of our efforts to expand partnerships with culturally relevant brands founded by women entrepreneurs.”