Victoria's Secret news and archive

Victoria’s Secret brand CEO Amy Hauk steps down, Martin Waters to take over

Amy Hauk, the chief executive officer of the Victoria's Secret brand, will exit the business on March 31. In a filing to the US Securities and Exchange Commission on Tuesday, the company said it was notified by Hauk on December 27 of her decision to resign. Martin Waters, who is CEO of the broader Victoria's Secret & Co business, will assume the...

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Victoria’s Secret reports drop in Q3 profit

Victoria’s Secret has reported a drop in profit in the third quarter of the year, but still beat expectations. The intimates specialty retailer made a net income of 24 million dollars in the three months to October 29, down from 75 million dollars a year earlier. Its profit was above the high-end of its previously communicated guidance. It came...

Business

Victoria’s Secret launches programme donating undergarments to women

Victoria’s Secret has launched a new programme through which it has said it is aiming to donate essential undergarments to one million women and young adults by 2025. The ‘VS&Co Essentials’ initiative will begin with a donation of nearly one million panties to be distributed to around 140,000 women across the US, with each to receive a one-week...

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Victoria’s Secret & Co cuts 160 jobs, announces leadership changes

Victoria's Secret & Co announced Tuesday it has cut around 160 management roles, or approximately 5 percent of its home office headcount, as part of a reorganisation of the business. The US retailer also announced a number of changes to its leadership team. Amy Hauk, who has been chief executive of the company’s Pink brand since 2018, will take...

Business

Victoria’s Secret pays 8.3 million dollar settlement to fired Thai garment workers

More than a thousand sacked Thai garment workers who made bras at a factory supplying lingerie giant Victoria's Secret have received a landmark 8.3 million dollar settlement, labour rights activists said Saturday. Brilliant Alliance Thai closed down its Samut Prakan factory in March 2021 after going bankrupt. But the 1,250 laid-off workers –...

Business

Victoria’s Secret launches digital curated brand platform

Victoria’s Secret has announced that it will be launching a curated digital platform designed to connect consumers with new brands selling intimates, lifestyle and swimwear products. VS&Co-Lab, which will launch as a new section of the lingerie giant’s e-commerce site, will build on its strategic partnerships, opening its doors with a collection...

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Victoria’s Secret publishes first ESG report

Lingerie giant Victoria’s Secret has published its first-ever environmental, social and governance (ESG) report outlining the steps the company has made in these areas so far and what it needs to continue to work on. In an opening statement, CEO Martin Waters said the company was continuing its “journey” of improving its relationship with its...

Business

Victoria’s Secret establishes joint venture with Regina Miracle for China business

Lingerie giant Victoria’s Secret has announced the completion of a joint venture with Regina Miracle International in regards to its company-owned business in China. The agreement will see Regina Miracle own 49 percent of the lingerie company’s China-based operations, including its Victoria’s Secret stores and online business. Victoria’s Secret...

Business

Victoria’s Secret & Co. acquires minority stake in women-led Frankies Bikinis

Lingerie giant Victoria’s Secret & Co. has acquired a minority interest in women-founded beachwear brand Frankies Bikinis. The Califonian label, founded in 2012 by Francesca Aiello, is widely known for its Malibu aesthetic, translating the laid back vibe of the beachy region into its apparel and identity. In a release, Victoria’s Secret CEO,...

Fashion

Victoria’s Secret taps plus-size influencer as it expands size range

Victoria’s Secret Pink has selected TikTok creator Remi Bader as its brand ambassador and size consultant as it ups its size inclusivity. The year-long partnership with the plus-size model is part of the brand’s mission to empower young adults and comes as it continues on its new course of action to refresh the brand identity. Bader will be part...

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Victoria’s Secret sells 49 percent of China business in joint venture

Victoria’s Secret & Co has sold 49 percent of its China business to Hong Kong-based lingerie company Regina Miracle for 45 million dollars in cash. The two companies have formed a joint venture with an aim to help Victoria’s Secret expand in the Chinese market. Under the joint venture, Regina Miracle will operate all Victoria’s Secret stores and...

Business

UK arm of Victoria’s Secret goes into liquidation

The UK arm of US lingerie retailer Victoria’s Secret is reportedly being put into liquidation. A spokesperson for administrators Teneo said a judge has approved the liquidation for what’s left of the UK part of the business, which will allow dividends to be paid to creditors, according to PA Media. It is understood that because Victoria’s Secret...