Victoria's Secret Announces $7 Million Investment in Women Entrepreneurs in Partnership With Amplifyher Ventures
February 28 2022 - 9:55AM
Victoria’s Secret today announced it intends to make a $7 million
investment in women-led businesses identified by Venture Capital
firm Amplifyher Ventures to provide women entrepreneurs
with greater access to capital and growth opportunities. The
initiative builds on the brand’s continued vision as an independent
company to be the world's leading advocate for women, which
includes empowering women in their careers and as leaders.
Victoria’s Secret and women-owned Amplifyher Ventures will
partner to help close the gender investment funding gap by
championing existing and up-and-coming women entrepreneurs;
creating opportunities for women investors, business founders, and
leadership teams to thrive; and ensuring women are represented in
companies from the ground up.
The announcement comes as there is still a gender investment
funding gap despite decades-long calls from the business and
financial community to increase women’s access to business capital.
Even while, data shows that women-led companies are more likely to
be successful; they deliver higher revenue at more than twice the
rate of their male counterparts per dollar invested, and they feed
the “representation funnel”—filling their staffs with 2.5 times
more women. In addition, companies with a woman founder and a woman
executive hire six times more women than male-led companies.
“As a company whose associate base is nearly 90 percent women,
ensuring that women are represented and supported in their careers
is extremely important to us,” said Martin Waters, CEO, Victoria’s
Secret & Co. “We’re proud to make this investment in women with
Amplifyher Ventures and help address the critical gender funding
gap. With Amplifyher we are championing women entrepreneurs who are
already leading the way and also supporting them in paving the way
for the next generation of women founders.”
"We look forward to partnering with Victoria's Secret in
supporting women innovators," says Tricia Black, Partner and
Founder at Amplifyher Ventures. "Amplifyher arms outstanding women
with the resources and capital needed to build their own C-Suites,
and Victoria's Secret is authentically aligned with this
vision."
“We admire how Victoria’s Secret is fostering community to
become a leading advocate for women,” says Meghan Cross, Partner at
Amplifyher Ventures. “At Amplifyher, we work closely with our
portfolio of under-represented founders who have a unique ability
to deliver outsized returns through network-driven flywheel effects
of growth. We sincerely look forward to Victoria’s Secret playing a
role in our community.”
Victoria's Secret is also addressing the gap by continuing to
build strategic business partnerships on its own platform with
women founded intimates and lifestyle
brands. Currently, partners include, For Love and Lemons,
BlueBella, Frankies Bikinis, MINDD, BFYNE and others. Victoria’s
Secret will continue to expand its partnerships with consumer
relevant brands, creating a curated women powered ecosystem that
supports entrepreneurs and their stories.
About Victoria's Secret:Victoria’s Secret (NYSE: VSCO)
is the world’s largest intimates specialty retailer offering a wide
assortment of modern, fashion-inspired collections including
signature bras, panties, lingerie, casual sleepwear and athleisure,
as well as award-winning prestige fragrances and body care. With
nearly 1,400 retail stores worldwide and a predominately female
workforce of more than 25,000, Victoria’s Secret boasts the largest
team of specialty trained bra fit experts worldwide. Victoria’s
Secret is committed to inspiring women around the world with
products and experiences that uplift and champion them and their
journey while creating lifelong relationships and advocating for
positive change.
About Amplifyher:Amplifyher is a Venture Capital firm that
invests in diverse leadership teams with a unique ability to create
flywheel effects of growth in new markets. The firm’s operating and
investment experience is of greatest value to founders in these
three areas: commerce (identifiable brands with data-driven market
opportunities and competitive logistics), care (tech-enabled
innovations that yield greater efficiencies in consumer health,
hospital infrastructure, and everyday living), and connectivity
(groundbreaking platforms and tools that enhance the expression,
distribution and monetization of information). For more
information, visit amplifyherventures.com.
For further information, please contact:
Brooke WilsonVictoria’s Secret & Co.
Communicationscommunications@victoria.com
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