diff --git a/src/segments/python.go b/src/segments/python.go
index ba33a2ca..49cace56 100644
--- a/src/segments/python.go
+++ b/src/segments/python.go
@@ -21,6 +21,7 @@ const (
 	// FetchVirtualEnv fetches the virtual env
 	FetchVirtualEnv      properties.Property = "fetch_virtual_env"
 	UsePythonVersionFile properties.Property = "use_python_version_file"
+	FolderNameFallback   properties.Property = "folder_name_fallback"
 )
 
 func (p *Python) Template() string {
@@ -74,6 +75,7 @@ func (p *Python) loadContext() {
 		"CONDA_DEFAULT_ENV",
 	}
 
+	folderNameFallback := p.language.props.GetBool(FolderNameFallback, true)
 	defaultVenvNames := []string{
 		".venv",
 		"venv",
@@ -87,8 +89,7 @@ func (p *Python) loadContext() {
 		}
 
 		name := platform.Base(p.language.env, venv)
-
-		if slices.Contains(defaultVenvNames, name) {
+		if folderNameFallback && slices.Contains(defaultVenvNames, name) {
 			venv = strings.TrimSuffix(venv, name)
 			name = platform.Base(p.language.env, venv)
 		}
diff --git a/src/segments/python_test.go b/src/segments/python_test.go
index c5794d0e..63754473 100644
--- a/src/segments/python_test.go
+++ b/src/segments/python_test.go
@@ -150,14 +150,36 @@ func TestPythonPythonInContext(t *testing.T) {
 
 func TestPythonVirtualEnvIgnoreDefaultVenvNames(t *testing.T) {
 	cases := []struct {
-		VirtualEnvName string
+		Expected           string
+		FolderNameFallback bool
+		VirtualEnvName     string
 	}{
-		{VirtualEnvName: "/path/to/folder/.venv"},
-		{VirtualEnvName: "/path/to/folder/venv"},
+		{
+			Expected:           "folder",
+			FolderNameFallback: true,
+			VirtualEnvName:     "/path/to/folder/.venv",
+		},
+		{
+			Expected:           "folder",
+			FolderNameFallback: true,
+			VirtualEnvName:     "/path/to/folder/venv",
+		},
+		{
+			Expected:           ".venv",
+			FolderNameFallback: false,
+			VirtualEnvName:     "/path/to/folder/.venv",
+		},
+		{
+			Expected:           "venv",
+			FolderNameFallback: false,
+			VirtualEnvName:     "/path/to/folder/venv",
+		},
 	}
 
 	for _, tc := range cases {
-		env := new(mock.MockedEnvironment)
+		params := &mockedLanguageParams{}
+		env, props := getMockedLanguageEnv(params)
+
 		env.On("GOOS").Return("")
 		env.On("PathSeparator").Return("/")
 		env.On("CommandPath", mock2.Anything).Return("")
@@ -167,9 +189,12 @@ func TestPythonVirtualEnvIgnoreDefaultVenvNames(t *testing.T) {
 		env.On("Getenv", "CONDA_DEFAULT_ENV").Return("")
 		env.On("Getenv", "PYENV_VERSION").Return("")
 		env.On("HasParentFilePath", ".python-version").Return(&platform.FileInfo{}, errors.New("no match at root level"))
+
+		props[FolderNameFallback] = tc.FolderNameFallback
+
 		python := &Python{}
-		python.Init(properties.Map{}, env)
+		python.Init(props, env)
 		python.loadContext()
-		assert.Equal(t, "folder", python.Venv)
+		assert.Equal(t, tc.Expected, python.Venv)
 	}
 }
diff --git a/website/docs/segments/python.mdx b/website/docs/segments/python.mdx
index 6179b81f..3e5a706f 100644
--- a/website/docs/segments/python.mdx
+++ b/website/docs/segments/python.mdx
@@ -9,8 +9,6 @@ sidebar_label: Python
 Display the currently active python version and virtualenv.
 Supports conda, virtualenv and pyenv (if python points to pyenv shim).
 
-If your virtual environment is a directory named `venv` or `.venv`, the virtual environment's name will be the parent directory.
-
 ## Sample Configuration
 
 import Config from "@site/src/components/Config.js";
@@ -38,8 +36,9 @@ import Config from "@site/src/components/Config.js";
 | `display_mode`         | `string`   | <ul><li>`always`: the segment is always displayed</li><li>`files`: the segment is only displayed when one of the following files is present:<ul><li>`*.py`</li><li>`*.ipynb`</li><li>`pyproject.toml`</li><li>`venv.bak`</li><li>`venv`</li><li>`.venv`</li></ul></li><li>`environment`: the segment is only displayed when a virtual env is present (**default**)</li><li>`context`: the segment is only displayed when either `environment` or `files` is active</li></ul> |
 | `version_url_template` | `string`   | a go [text/template][go-text-template] [template][templates] that creates the URL of the version info / release notes                                                                                                                                                                                                                                                                                                                                                        |
 | `extensions`           | `[]string` | allows to override the default list of file extensions to validate                                                                                                                                                                                                                                                                                                                                                                                                           |
-| `folders`              | `[]string` | allows to override the list of folder names to validate                                                                                                                                                                                                                                                                                                                                                                                                                     |
+| `folders`              | `[]string` | allows to override the list of folder names to validate                                                                                                                                                                                                                                                                                                                                                                                                                      |
 | `cache_version`        | `boolean`  | cache the executable's version or not - defaults to `false`                                                                                                                                                                                                                                                                                                                                                                                                                  |
+| `folder_name_fallback` | `boolean`  | instead of `venv` or `.venv` (case sensitive), use the parent folder name as the virtual environment's name or not - defaults to `true`                                                                                                                                                                                                                                                                                                                                      |
 
 ## Template ([info][templates])