<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0206</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2025-03-10</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0001856437</issuerCik>
        <issuerName>Victoria's Secret &amp; Co.</issuerName>
        <issuerTradingSymbol>VSCO</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001930869</rptOwnerCik>
            <rptOwnerName>BBRC INTERNATIONAL PTE LTD</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>3 PHILLIP STREET #09-05</rptOwnerStreet1>
            <rptOwnerStreet2>ROYAL GROUP BUILDING</rptOwnerStreet2>
            <rptOwnerCity>SINGAPORE</rptOwnerCity>
            <rptOwnerState>U0</rptOwnerState>
            <rptOwnerZipCode>048693</rptOwnerZipCode>
            <rptOwnerStateDescription>SINGAPORE</rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isTenPercentOwner>true</isTenPercentOwner>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>8153019</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                    <footnoteId id="F1"/>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnote 1</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">Consists of shares owned by the reporting person, as trustee for the BB Family International Trust (the &quot;BB Family Trust&quot;), and by BBFIT Investments Pte Ltd (&quot;BBFIT&quot;). BB Family Trust is the sole shareholder of BBFIT. The reporting person, as the trustee of BB Family Trust, may be deemed to beneficially own the shares owned by BBFIT and BB Family Trust. The reporting person expressly disclaims beneficial ownership of any securities of the Issuer except for those securities that are owned directly by the reporting person or to the extent of the reporting person's pecuniary interest therein.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Brett Blundy, Managing Director</signatureName>
        <signatureDate>2025-03-12</signatureDate>
    </ownerSignature>
</ownershipDocument>
