Victoria’s Secret announced that it will stop its swimwear collection and its famous swimwear catalogue in 2016. In order to focus on a more profitable product line, the brand decided to completely change the route and bring back bikinis and singles in the spring of 2019. Pieces.
The news was announced this morning with Victoria’s secret earnings report by Stuart Burgdoerfer, chief financial officer of PEOPLE, the secret company of Victoria (Victoria’s secret parent company). Burgdoerfer also announced that Victoria’s secret will also release glasses and footwear next year.
The move is when Victoria’s secret is trying to find a foothold in a changing retail environment.
Sales fell. According to CNBC, shares of L Brands, which owns Bath & Body Works, Henri Bendel and PINK, plummeted about 38% this year.
At the same time, the leadership is swinging. On Tuesday, L Brands also announced John Mehas as the new CEO of Victoria’s Secret. According to WWD, he will replace former CEO Jan Singer in early 2019. Two years after the launch of the brand, Singh resigned last week.
Moreover, due to the lack of inclusiveness, the brand’s response has become stronger and stronger, which is evident in its annual Victoria’s Secret Fashion Show, which was recorded at N.Y.C. This month.