Victoria’s Secret & Co. Is Revolutionizing the Cotton Supply Chain and Supporting the Economic Success of Women Farmers in the US

(Neutral)

Rhea-AI Summary

Victoria's Secret has launched a groundbreaking initiative to purchase cotton directly from four Alabama family farms, including three women-owned and one Black-owned operation. In 2023, approximately 43% of the company's cotton was sourced directly from these Alabama farm partners. This direct-to-farm model eliminates intermediaries, ensuring farmers receive full proceeds from their crops. The initiative is particularly significant given that women-owned and operated farms account for only 3% of U.S. cotton production. The company plans to expand these direct partnerships both domestically and internationally, focusing on empowering women and supporting human rights while managing environmental impact.

Positive

Direct sourcing model eliminates intermediaries, improving profit margins
43% of cotton sourced directly from partner farms in 2023
Strategic initiative supports company's ESG goals
Plans for expansion of direct-to-farm partnerships globally

Negative

None.

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11/19/2024 - 11:00 AM

NORTHAMPTON, MA / ACCESSWIRE / November 19, 2024 / Victoria's Secret

Originally published in VS&Co's 2024 Women's Impact Report

VS&Co has embarked on a first-of-its-kind initiative to purchase cotton directly from four Alabama family farms - three women-owned, and one Black-owned.

This marks a significant departure from traditional supply chain models in the fashion industry, which typically relies on intermediaries to ship, process, and sell in bulk. Rather, this direct and transparent relationship with our cotton partners eliminates intermediaries, so farmers receive all of the proceeds from their crops which in turn supports their land, livelihoods, families, and communities for future generations.

In 2023, about 43% of our cotton was purchased directly from our Alabama farm partners. Our intention is to continue growing direct-to-farms partnerships in the U.S. and around the world.

Ultimately, this work enables us to have greater visibility into who is growing our cotton and how it's grown - ensuring the raw materials we source are contributing to our strategy of empowering women, supporting human rights as well as our environmental impact.

We hope you'll check out page 25 of our Women's Impact Report to learn more about Jamie Blythe, Larkin Martin and Liz Spruell who are all farmers in Alabama that VS&Co works closely with to source cotton for various products.

Minority-owned and operated farms comprise a small percentage of cotton production in the U.S., with women-owned and operated farms accounting for only about 3% (source: Census of Agriculture, USDA, National Agricultural Statistics Service).

Pictured (L-R) are VS&Co's Women Cotton Farmers Liz Spruell, Jamie Blythe and Larkin Martin

View additional multimedia and more ESG storytelling from Victoria's Secret on 3blmedia.com.

Contact Info:
Spokesperson: Victoria's Secret
Website: https://www.3blmedia.com/profiles/victorias-secret
Email: info@3blmedia.com

SOURCE: Victoria's Secret

View the original press release on accesswire.com

FAQ

What percentage of Victoria's Secret (VSCO) cotton comes from direct farm partnerships?

In 2023, approximately 43% of Victoria's Secret's cotton was sourced directly from their Alabama farm partners.

How many women-owned farms does Victoria's Secret (VSCO) partner with in Alabama?

Victoria's Secret partners with three women-owned farms and one Black-owned farm in Alabama for direct cotton sourcing.

What percentage of U.S. cotton farms are women-owned according to Victoria's Secret (VSCO) report?

According to the USDA National Agricultural Statistics Service, only about 3% of U.S. cotton farms are women-owned and operated.