Lively, the direct-to-consumer lingerie and loungewear brand, is becoming part of Wacoal Industries. The 3-year-old brand founded by a former Victoria’s Secret merchant director, Michelle Cordeiro Grant, was acquired for $85 million.
Grant is expected to stay on as CEO and will continue to run Lively as an independent brand inside Wacoal. The company raised $15 million in funding, with a Series A of $6.5 million. To date, the company’s sold more than a million products and is on track to sell more than a million this year.
“From the Lively perspective, we’ve always believed that the market was right for diversification,” Grant said.
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