Sydney Sweeney’s SYRN posted a photoshoot with Olivia “Livvy” Dunne, hinting at a potential collaboration that could shake the lingerie industry – and sending shares in Victoria’s Secret slumping 3.5%.

An Instagram post from SYRN Tuesday showed Dunne, a retired NCAA gymnast and social media influencer with over 5 million followers, posing in the brand’s boyshorts – in a potential partnership that could help propel the brand to new heights.

“I would love to see a Sydney Sweeney & Livvy Dunne collab,” one user commented under the photo. 

Another wrote: “The collab everyone has been waiting for.”

Victoria’s Secret did not immediately respond to The Post’s request for comment.

Victoria’s Secret has won back some shoppers since reviving its Fashion Show and returning to “unapologetically sexy” campaigns – but it’s still clawing its way out of the gutter after a failed “woke” rebrand.

In the meantime, “Euphoria” actor Sweeney has launched her own lingerie brand, SYRN – and her star power could be enough to take on industry giants, after her controversial jeans campaign with American Eagle boosted sales at the teen retailer and raked in a million new customers.

Just last week, Sweeney dropped a new ad for American Eagle, sending the stock soaring 9%.

Though her viral ad campaign last summer stoked heated backlash, with some calling it “Nazi propaganda,” it sparked a rally that more than doubled the stock – and even got a stamp of approval from President Trump.

Victoria’s Secret has also tried turning to fresh superstars, adding gymnast Suni Lee, WNBA player Angel Reese and more plus-size models like Ashley Graham to its Fashion Show line-up.

Its stock has soared more than 70% over the past six months as it attempts to erase the effects of a failed rebrand that sent shares cratering.

In 2019, the company distanced itself from its sultry Angels and cancelled its iconic Fashion Show amid backlash related to the #MeToo movement and its ties to Jeffrey Epstein.

Last December, after its second Fashion Show following the five-year hiatus, Victoria’s Secret saw its highest quarterly sales growth in more than four years.

Hillary Super, who was tapped as the company’s CEO in September 2024, said shoppers flocked to stores after the 2025 Fashion Show, paying full price for bras and panties and selling out some items.

After launching the “Very Sexy” campaign, which includes garter belts, thigh-high stockings and sheer tops, Super vowed in an interview with The Wall Street Journal that the brand would be “very unapologetically sexy” again.

In its previous effort not to offend anyone, “the brand got a bit watered down,” Super said. “Decisions were made out of fear.”

Her predecessor, Martin Waters, agreed, saying: “At the time I took over, Victoria’s Secret was regarded as inappropriate and off-color and we had to correct those mistakes.”

“Now, times have changed and I support what Hillary is doing,” he added.