Victoria’s Secret & Co. VSCO, +3.24% said Friday it has invested $18 million to acquire a minority stake in Frankies Bikinis, a women-founded and led beachwear and lifestyle brand located in Venice, California. The company was founded in 2012 by then-17-year-old Francesca Aiello and her mother, Mimi Aiello and is known for its relaxed Malibu vibe, Victoria’s Secret said in a statement. The investment will have no material impact on the company’s first quarter earnings, said the statement. Shares were not active premarket, but have fallen 7% in the year to date, while the S&P 500 SPX, +0.51% has fallen 5%.
