- Victoria's Secret ( NYSE: VSCO ) has agreed to acquire digitally-native intimates brand, Adore Me.
- The consideration includes an initial upfront payment of $400M in cash and further cash consideration, a portion of which is fixed, while the other portion is based on Adore Me's performance achievement of specified growth and synergy targets over a two-year period.
- The deal, which was unanimously approved by Victoria's Secret's ( VSCO ) board of directors, will be funded at closing with cash on hand.
- Serving more than 1.2M active customers, Adore Me will act as a growth vehicle for Victoria's Secret's ( VSCO ). The deal creates significant upside for Victoria's Secret ( VSCO ), providing it with access to Adore Me's expertise and technology to elevate its own digital platform and enhance shopping experience for customers.
- The transaction is expected to close by the end of January 2023.
For further details see:
Victoria's Secret to acquire intimates brand Adore Me