The news comes from the Wall Street Journal, which supports the possible sale of the brand by the billionaire Leslie Wexner. The entrepreneur is in fact considering the possibility of leaving the position of CEO of the L Brands group, which he founded, after 57 years and of selling, in whole or in part, the lingerie brand.
Once the queen of lingerie, the brand Victoria’s Secret has been in crisis for a few years now. Sales are going badly and the brand has also had to deal with events on a reputational level, which have helped to drive consumers away: models accused of anorexia or in any case of propagating a model of non-real woman and a decade ago the group had been accused of exploit child labor in Burkina Faso for cotton harvesting. They had tried to overturn the image of the brand enlarged the range of its models-ambassadors to the Brazilian transgender Valentina Sampaio, but this is not based, so much so that in December 2019 the show also jumped (read article here).
The underwear chain that has long dominated the US market has faced a drastic drop in sales in recent years. In fact, the group, which also owns the Bath & Body Works and Pink chains, currently has a market value of less than $ 6 billion. Just think that in 2018 the revenues of the lingerie brand alone amounted to 7.4 billion dollars (out of a total of 13.2 billion), practically in line with 2017 but down compared to 7.78 billion in 2016 and above all after hitting 29 billion in 2015.
Angels are not expected to put their wings out shortly, but we believe they will stay in the souvenir showcase for a long time.
