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Victoria’s Secret witnessed an escalating sales growth in its third fiscal quarter, suggesting that the company’s revamp strategies are gaining traction. The retail giant reported net sales of US$1.472 billion for the quarter ending November 1, marking a 9…
In a statement, Victoria’s Secret CEO Martin Waters called Regina Miracle “a valued merchandise supplier partner for more than twenty years.” The brand is maintaining control of its business in China, but has turned to a local, known player to run it, and…
Victoria’s Secret is expanding its online presence in China with the launch of a flagship store on JD, the e-commerce platform. A representative from JD’s underwear business said the collaboration of the two companies not only expands JD’s cooperation with…
British multinational clothing retailer Next has been selected as the intended UK franchise partner for Victoria’s Secret by the brand’s administrators. A Next partnership would give Victoria’s Secret UK access to a sophisticated digital and delivery capacity…
The high-profile Victoria’s Secret Hong Kong flagship store has been closed suddenly. According to multiple reports, employees were all laid off last night (June 24) on the even of Hong Kong’s public holiday. Signs were placed on the store’s entrance…
The Victoria’s Secret UK business has been placed in administration – and it is not just a victim of the Covid-19 crisis, says one analyst. Echoing concerns expressed in the brand’s US home market, Sofie Willmott, lead retail analyst at GlobalData, said…
The ongoing saga of Victoria’s Secret’s survival took another significant turn overnight as parent L Brands confirmed the deal with private-equity company Sycamore Partners was canceled and it now plans to spin the business off. The two companies have…
Sycamore Partners’ rescue plan for troubled lingerie retailer L Brands is all but off with the two companies headed to court after the private-equity company unilaterally canceled the bid. Sycamore agreed to pay US$525 million for a 55 percent stake in L…
That L Brands has opted to sell a majority stake in Victoria’s Secret is a tacit recognition that the brand was on the road to nowhere under its previous leadership. This is underlined by the departure of Les Wexner as CEO and chairman of the company. The…
L Brands is reportedly about to announce the sale of its troubled Victoria’s Secret lingerie business to private-equity company Sycamore Partners. The move would leave L Brands with just one retail business – the fast-growing Bath & Body Works, which in some…
A root-and-branch review of the Victoria’s Secret business has spelled the end of its famed televised catwalk shows – and even its giant flagship stores may be under threat. The world’s most famous lingerie retailer is trying to arrest falling sales and…
The Victoria’s Secret Fashion Show this year is still months away. As the date and location are still shrouded in secrecy, 57 beauties have already been confirmed as part of the lineup, with a record number of Chinese faces announced to walk the…
Second-quarter net sales fell by 8 per cent year on year to US$2.7 billion for Victoria’s Secret owner L Brands. The company says there was a negative impact of about six points with the exit from the swimwear and apparel categories, which particularly hit…
Victoria’s Secret will open a new mega store in Macau on April 27, as the US brand eyes further Asia expansion, following its China debut store opening last February. Under parent company L Brands, the 15,000-square-foot Macau full assortment store — which…
