Victoria’s Secret announces $7 million investment in women led businesses
Victoria’s Secret is to invest $7 million in women-led businesses as it looks to provide female entrepreneurs with greater access to capital and growth opportunities.
The businesses will be identified by women-owned Venture Capital firm Amplifyher Ventures.
The two companies will also be working to create opportunities for women investors, business founders and leadership teams, and to ensure that women are represented in companies from the ground up.
Martin Waters, chief executive of Victoria’s Secret & Co, explained: “As a company whose associate base is nearly 90% women, ensuring that women are represented and supported in their careers is extremely important to us. 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.”
Tricia Black, partner and founder at Amplifyher Ventures, added: “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.”
Victoria’s Secret said it will also continue to build strategic business partnerships on its own platform with women founded intimates and lifestyle brands. Currently, partners include the likes of For Love and Lemons, BlueBella, Frankies Bikinis, MINDD and BFYNE.