Jan Singer, the former CEO of Spanx, was appointed to take the reins of Victoria’s Secret in May 2016.
She joined the company following the sudden departure of Sharen Jester Turney in February 2015 after a decade at the company.
Since then, the company has been reorganised into three business units: Victoria’s Secret Lingerie, PINK and Victoria’s Secret Beauty, in a move to focus the brand on its strongest categories.
The retail chain has also scrapped its swimwear business and added a new activewear line, Victoria’s Secret Sport, which boosted growth for the business in the first quarter of 2016.
Victoria’s Secret has ramped up its UK expansion since opening its first UK store at Westfield Shopping Centre in Stratford, London in July 2012 and a flagship store on New Bond Street a month later.
The retailer now has 18 stores dotted around England and Wales, and is currently eyeing opportunities to open its first store in Northern Ireland.
Victoria’s Secret’s UK business recorded a 25% growth in revenue to £106,363 and a 19% growth in profit to £69,418 in the 52 weeks to January 2016.
This was primarily related to the execution of the day-to-day store operations of Victoria’s Secret’s stores, according to a full-year statement published on Companies House on October 18.
In 2017, Victoria’s Secret will continue its UK expansion with a new store set to open in Brighton.
The lingerie retailer plans to launch the 9,000ft2 store in Churchill’s Square’s Upper Mall in the spring. It will be one of 30 stores Victoria’s Secret plans to open across the UK.
Company: Victoria’s Secret
Address: 16 Garrick Street, London, WC2E 9BA
Focus: Lingerie retail
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