Our Supplier Diversity Program
Building and nurturing a strong commitment to our suppliers has always been important to Victoria’s Secret & Co. As a part of L Brands, we launched our supplier diversity initiative guided by our values -- and as VS&Co spun off as a standalone company in 2021, we re-committed to this work as part of our Diversity, Equity and Inclusion strategy. For us, DEI is everything. It’s not just about selling products – it's about using our scale and platform to empower the economy in the global communities where we live and work.
Partnering with women-, BIPOC-, LGBTQIA+-, Veteran- and People with Disabilities–owned businesses is important to our success and to our role as a leader in the retail industry. Thus, we seek relationships with suppliers that mirror our values by ensuring diversity in their supply base. The mutually beneficial business will broaden the economic vitality and prosperity of the communities we serve, create value for our shareholders and provide fresh perspective and innovative solutions to our business. We’ll do so by working with diverse vendors and including them in business development programs, hosting annual matchmaking events and intentionally partnering with third-party organizations to provide access to our supplier diversity program.
Suppliers interested in partnering with us through the supplier diversity program are encouraged to be certified by any one of the following third parties:
- Minority Business Enterprise (MBE) - Supplier must be at least 51 percent owned and controlled by an ethnic minority National Minority Supplier Development Council, US Pan Asian American Chamber of Commerce or other state and/or local entities.
- Women Business Enterprise (WBE) - Supplier must be at least 51 percent owned and controlled by a woman (regardless of ethnicity). Certification is available through the Women’s Business Enterprise National Council, National Women Business Owners Corporation or other state and/or local entities.
- LGBT Enterprise - Supplier must be at least 51 percent owned and controlled by an individual who is a member of the LGBT community. Certification is available through the National Gay and Lesbian Chamber of Commerce
- Service Disabled Veteran (SDV) - Supplier must be at least 51 percent owned and controlled by an individual who is a U.S. veteran. Certification is available through the U.S. Department of Veterans Affairs or another third-party organization.
- Veteran Business Enterprise (VBE) - Supplier must be at least 51 percent owned and controlled by an individual who is a U.S. veteran. Certification is available through the U.S. Department of Veterans Affairs, National Women Business Owners Corporation or another third-party organization.
- Disabled Business Enterprise (DOBE) - Supplier must be at least 51 percent owned and controlled by a person with a disability. Certification is available through Disability:IN or other state and/or local entities.
Why do we encourage third-party certification?
To ensure that the women-, BIPOC-, LGBTQIA+-, Veteran- and/or People with Disabilities-owned companies we work with are owned and operated by a diverse group of people. While other corporations and government entities require formal certification, it's just a preference for VS &Co. If you are qualified but not formally certified your company could be considered diverse in our program.
Most certification programs are designed to strategically match diverse suppliers with buyers and decision makers with member corporations. Matches are based on products and services that corporate representatives are interested in and/or procure regularly.
In addition to building direct relationships between Victoria’s Secret & Co. and diverse business enterprises, we ask our primary suppliers to mirror our practices and work to increase and report their use of diverse suppliers.
While supplier diversity seeks to ensure a level playing field in our procurement practices, the decision to award business to a diverse supplier is based on a supplier’s ability to provide the product or service that best meets our business requirements.
Joining the Fifteen Percent Pledge
In June 2022 we signed a multi-year contractual commitment with the Fifteen Percent Pledge, with the goal of increasing the amount of Black-owned brands in our supplier base.
The Fifteen Percent Pledge is a racial equity and economic justice non-profit organization working toward a more equitable economic future.
In recognition that Black people in the U.S. make up nearly 15% of the population, the Fifteen Percent Pledge is calling on major retailers and corporations to commit a minimum of 15% of their annual purchasing power to Black-owned businesses, in addition to other internal and external efforts to support closing the racial wealth gap.
As part of our commitment, we are partnering with the Fifteen Percent Pledge to create a welcoming and sustainable environment for Black brands to do business.