National CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Victoria’s Secret Slashes Swimwear and Cuts Jobs, But Still Dominates
By: Daniella Soloway
As summer approaches, Victoria’s Secret has decided this will be its last season of selling swimwear, according to Citigroup and sources close to the company.
A year ago, analysts estimated that the company’s swimwear line could result in $1 billion of business, but after designing “overly complex swimsuits” and reporting slumping sales in the category, the company is adjusting its strategy.
L Brands, its parent company, also announced cutting about 200 employees and dividing the company into three: Victoria’s Secret Lingerie, Victoria’s Secret Beauty, and PINK.
Despite this news, the retailer still dominates the lingerie category with 61.8% market share.
- ◦Sale/Acquisition
