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Victoria’s Secret Buys Alumni-Founded Adore Me
Morgan Hermand Waiche
Morgan Hermand Waiche
The Wall Street Journal reported last week that startup lingerie retailer Adore Me was bought by Victoria’s Secret for $400 million.
Launched soon after Hermand Waiche graduated, Adore Me aimed to upend the industry. "My family has a history in the garment industry in France, so I frequently heard friends and family complain about the options for buying lingerie in the United States,” he said in a 2014 article from the “First Five Years” HBS alumni profile series. “I found that there was a huge opportunity to disrupt the intimate apparel space.”
Today, the Journal notes, Adore Me “has more than 1.2 million customers … who purchase its products online through monthly subscriptions and one-time buys.” Victoria’s Secret CEO Martin Waters noted that Adore Me is “significantly further advanced in the way that they use technology at the forefront of everything that they do.” In a press release announcing the sale, Hermand Waiche noted that, “We have significantly grown our business over the past decade, and are excited to bring our technology, purchase experiences, inclusive assortment, brand and team to join the next phase of Victoria’s Secret’s growth.”
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