Victoria’s Secret to get back in the swimwear business
Victoria’s Secret jumps back into the water. The American company specialised in lingerie has relaunched its swimwear line after erasing it from its offer three years ago. This announcement is the first step taken within a whole strategy carried out by the group after the designation of John Mehas, former Ralph Lauren, as new CEO.
The executive has substituted Jan Singer in the position, who led the company for the last three years. With Mehas at the head of the group, Victoria’s Secret has continued with the change of course of its business.
Besides the reincorporation of swimwear into the group’s offer, the company has also carried out several other measures such as the distribution of other brands besides its own both in physical stores as online, among them Ugg products, as well as sunglasses from other brands. Victoria’s Secrets plans also contemplate continuing with the restructuration of their stores network, which would entail the closure of even more stores.
This reorganisation is coming up after L Brands, owner of the lingerie company, scored a result of 103.8 million dollars (90.8 million euros), a 67% less, during the nine first months of the fiscal year. Victoria’s Secret, the group’s top chain, raised its sales a 2.6% until November, standing at 4.84 billion dollars (4.27 billion euros).
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