Lingerie brand Victoria’s Secret is foraying into the swimwear market with an $18 million investment in Los Angeles-based brand Frankies Biknis. The investment is a continuation of the company’s efforts to expand partnerships with culturally relevant brands founded by women entrepreneurs, says Martin Waters, CEO, Victoria’s Secret Lingerie.

The acquisition also gives Victoria’s Secret a bigger piece of the fast-growing swimwear industry. The company offers swimwear brands like Frankies Bikinis, Beach Riot, Bfyne, Vitamin A, Miraclesuit, Baobab, Roxy and Skinny Dippers, among others, on its website. The investment in Frankies Biknis gives it further insight into the Gen Z and Millennial customer mindset, says Patti Cazzato, Head -Emerging Businesses. Victoria’s Secret seeks to curate relationships with brands that will help it access categories and customer segments it currently lacks in and culturally relevant brands.

Founded by Francesca Aiello in 2012, Frankies Bikinis has expanded into footwear, men’s swim seperates, , beauty, activewear, cell phone cases and ready-to-wear apparel, in addition to collaborations with names like Alo Yoga, streetwear brand Kith, model Sofia Richie, actress Hailee Steinfeld and tennis star Naomi Osaka.