Victoria’s Secret launches VS&Co-Lab, welcomes new brands
Victoria’s Secret & Co announced on Thursday the launch of a new curated digital platform that will connect customers to third-party brands that align with its values of innovation and inclusivity.
Dubbed 'VS&Co-Lab', the inclusive shopping experience makes its debut as a new section on VictoriasSecret.com. The platform launches with 19 brands. In particular, 75 percent are founded, owned or led by women, including minority stake-owned For Love & Lemons and Frankies Bikinis.
"In addition to the growth we are driving through our core business, we see important growth potential through partnerships with innovative, relevant brands that can help us extend our reach into category and consumer segments where we have historically been underrepresented,” said Martin Waters, CEO of Victoria’s Secret. “We’re excited to launch this platform where we will showcase, market and create consumer engagement with such exciting, unique and relevant businesses.”
Looking ahead, the company said that VS&Co-Lab will continue to be committed to investing in diverse brands that offer a differentiated view of the marketplace, customer and category.
“As one of the world’s most recognizable companies among women and with nearly 90 percent of our store associates worldwide identifying as women, we have a responsibility to ensure women can advance and thrive in every aspect of their lives,” added Patti Cazzato, head of emerging businesses for Victoria’s Secret & Co.
“VS&Co-Lab evens the playing field for unique brands that speak to the modern consumer. Through leveraging the strength of Victoria’s Secret & Co. and our passionate customer base, we are meeting consumers where they are while simultaneously partnering with small business to drive economic empowerment for women and people of color.”
The company said that VS&Co-Lab marks the evolution of its journey to build strategic business partnerships with a focus on inclusive intimates and lifestyle brands on its own platform.
The move comes as the company continues to transform its business, almost one year since becoming an independent company. Victoria’s Secret spun-off as a separate business, from its Columbus, Ohio-based parent company, L Brands, in August 2021.
The company has since launched a fully digital brand for tweens and appointed its first male ambassador, Darren Barnet, who fronted VS Pink's latest gender-neutral collection of sweats. It also overhauled its board of directors in an effort to make it majority women.
It has since returned to black for the full year 2021, following a 25% uptick in annual sales and solid fourth-quarter revenue growth. The Reynoldsburg, Ohio company said net sales for the year totalled $6.785 billion, compared to $5.413 billion in 2020.
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