Guimaraes Women

Vitória was formed in 1922. Its name seems to be a tribute to Vitória de Setúbal, which at the time was a top contender for the Campeonato de Portugal, though these days Guimarães supporters downplay the connection. After seasons of hard work, which culminated in winning several titles in Braga's AF league, the Conquistadores were promoted to the Primeira Liga in 1941, and two seasons later battled the Sadinos from Setúbal for the first time in the League. Against all odds, reached their first Taça de Portugal final in their debut season, but lost to Belenenses 2–0.

Vitória's furthest progress in a European tournament was in the 1986–87 UEFA Cup, in which they were defeated 5–2 on aggregate in the quarter-finals by West German club Borussia Mönchengladbach.

In the early 2000s, Vitória struggled in some years to retain its status in the top Portuguese division, then named the Superliga. Those years were marked by the decline of the leadership of Pimenta Machado, former club president, who was accused on charges of embezzlement. In February 2008 he was sentenced to four years and three months of prison on a suspended sentence, though a year later he was cleared of this charge and instead ordered to pay a €4,000 fine for falsifying a document.

Despite this, in 2004–05, the club secured a fifth-place finish in the league and qualified for European competition via the UEFA Cup. The next season (2005–06), however, they were relegated to the Segunda Liga (where they last played in 1958) after finishing 17th in the Superliga, despite reaching the Taça de Portugal semi-final, having beaten Benfica in the quarter-finals. The club also failed to progress from their UEFA Cup group, as eventual winners Sevilla, Premier League outfit Bolton Wanderers and Russian team Zenit Saint Petersburg progressed.

Vitória bounced back immediately to the top-flight as runners-up to Leixões S.C. under the management of Manuel Cajuda. A joint-best third-place finish in 2007–08, guaranteeing them a place in the third qualifying round of the 2008–09 UEFA Champions League, their first such campaign. There they fell to Swiss side FC Basel 2–1 on aggregate, with a potential away goal winner by Roberto Calmon Félix being ruled out late on for offside, despite being a bad call from the referee. Vitória dropped into the 2008–09 UEFA Cup first round as a result of their elimination, and lost 4–2 on aggregate after extra time to England's Portsmouth.

Led by Rui Vitória in 2012–13, Vitória found themselves in financial problems, which caused them to lose many experienced players and bet on young players. However, they would go on to win their first Taça de Portugal title after previously losing five finals. Vitória beat rivals Braga en route to the final, where they recovered from 1–0 down against Benfica to win 2–1.

In 2017, Vitória made the cup final again, losing 2–1 to double winners S.L. Benfica. That September, the team left their mark in UEFA competitions, being the first team to start a game without a European player on the field. In 2020–21, the club went through four managers – Tiago, João Henriques, Bino and Moreno – before finishing seventh, missing Europe by one place.

In February 2023, Vitória announced an agreement to sell 46% of the club's shares in a deal worth €5m to football club holding company V Sports, led by billionaires Nassef Sawiris and Wes Edens: owners of Premier League club Aston Villa. V Sports would additionally offer a credit line of up to €20m, and invest an additional €2m into sporting infrastructure. The agreement was approved at a vote of Vitória's members on 4 March 2023: approximately 88% voted in favour of the deal. However, due to UEFA rules, VSports participation had to be reduced to 29%.