Adore Me
“Can an inclusive DTC lingerie brand become Victoria's Secret's digital-native growth engine while scaling B2B wholesale commerce?”
Founded2012
HQNew York, NY
FoundersMorgan Hermand-Waiche, Romain Liot, Gary Bravard, Fabrice Grinda, Jose Marin
Total raised$54.8M
Latest roundAcquired by Victoria's Secret, November 2022
Valuation$559M (acquisition, 2022)
IndustryE-commerce / DTC brand
The story
Founded in 2012 by Morgan Hermand-Waiche as a direct-to-consumer online lingerie brand challenging Victoria's Secret with monthly new collections at affordable price points. Grew via subscription e-commerce model with personalized 'showrooms' and a focus on inclusivity and extended sizing. Raised $54.8M across multiple rounds before being acquired by Victoria's Secret in 2022 for ~$400–559M, becoming a subsidiary that now operates its own B2B commerce platform via DJUST and continues its DTC digital business.
Last 12 months
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Product timeline
2012
Adore Me officially launched its website, offering a subscription-based lingerie and swimwear e-commerce model.· pivot
2013
Raised $8.5M Series B to accelerate fast-fashion intimate apparel model with monthly new collections.· banking
2021
Received private equity investment from Otium Capital, accelerating growth toward acquisition.· pivot
2022
Acquired by Victoria's Secret for approximately $400–559M, becoming an operating subsidiary.· acquisition
The stack
3 layers disclosed in Adore Me’s embedded-finance stack
Payments / PSP
FX & payouts
in the full report
Accounting
in the full report
Accounting gap: minor
10 more providers across 2 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.