The global fashion business journal
Jun 2, 20239:41pm
The origin of L Brands comes from a marriage. In 1951, Bella Cabakoff, a Russian emigrant, arrived at the United States and started with her husband, Harry Wexner, a women's fashion store named after her son, Leslie’s. In 1982, The Limited acquired Victoria’s Secret, an intimate fashion business consisting of six stores and a catalog, for which it paid a million dollars.
In just twelve months, Victoria’s Secret has canceled its annual show, dismissed its chief marketing officer and replaced its chief executive officer.
The company has ended its third quarter with a net loss of 252 million dollars, compared to the net loss of 42.8 million dollars year-on-year.
The owner of Victoria’s Secret ended its first half with a net benefit of 77.8 million dollars, compared to the 146.5 million dollars last year.
The group, owner of the intimate chain, had a revenue of 13.23 billion dollars in 2018, which meant an increase of 4.7% compared to 2017.
The group, owned by Li&Fung since 2000, holds the licenses of brands such as Under Armour, Kenneth Cole and Juicy Couture, and owns the Frye and Spyder labels, among others.
The company, owner of lingerie brand Victoria’s Secret, posted a 7% revenues jump in the same period, compared to the 0.4% upsurge registered in fiscal 2017.