Sunday , May 16 2021

Victoria's Secret is changing direction to recover and overcome controversy



Victoria's Victoria's Secret Underwear will be picked up by a fashion store manager in New York, Tory Burch, with the hope of recovering it and ending with a controversy over its vision of women, a subject of strong criticism.

John Mehas, the current president of Tory Burch, will be celebrated in early 2019 by Jan Singer, whose resignation was announced last week, said L Brands Group, owner of Victoria's Secret.

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"Number one priority is to improve Secret Victoria footwear results," Leslie Wexner, CEO of L Brands, said in a statement.

"Our new leaders arrive with a new look and will notice everything – our marketing, brand location, talents, real estate portfolio and cost structure and, most importantly, (…) our assortment," he added.

This address change coincides with the publication of poor results for the L Brands Group: in the third quarter of 2018, recorded a net loss of $ 42.8 million, compared with a net profit of 86 million in the same period of 2017, while Victoria's Secret met a new 2 percent decline in sales.

It also happens at a time when the brand has been shaken by a controversy over the choice of models for the New York-based annual flagship parade that will be launched on December 2 all over the world.

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