While she is not a plus-size model, fans praised the company for its decision to take on Hungarian model Barbara Palvin as one of its newest Angels. Instagrammers celebrated a post starring Palvin for being more body-inclusive, as they perceived her to be curvier than some of the brand's other models. Brazilian transgender model Valentina Sampaio, shared a photograph of herself on Instagram in August tagging the Victoria's Secret Pink brand along with the hashtags: "campaign," "vspink," and "diversity.
Her agent later confirmed that she had signed a contract with Victoria's Secret. During a call with analysts after reporting its third-quarter earnings results, L Brands CFO Stuart Burgdoerfer responded to a question about whether the fashion show would run this holiday season.
Wexner previously told employees in May that Victoria's Secret was "rethinking" the show. And Victoria's Secret model Shanina Shaik — who has walked in several of its fashion shows — told The Daily Telegraph in Australia in July that the annual show was off this year.
Epstein managed Wexner's money for several years, and former company executives told the Wall Street Journal that he tried to meddle in Victoria's Secret's business, offering input on which women should be models.
Some of Epstein's victims came forward saying that he used his connection to Victoria's Secret to coerce them into sexual acts. L Brands' board of directors announced that it had hired an outside law firm to review its relationship with Epstein. But that is in the past. Read more: Former employees reveal what the billionaire head of Victoria's Secret is like as a boss as he faces backlash over his ties to Jeffrey Epstein. In a statement to the press announcing the news, Wexner said that Sycamore has "deep experience in the retail industry and a superior track record of success," and that it "will bring a fresh perspective and greater focus to the business.
At the end of April , Sycamore filed a lawsuit to back out of the deal , alleging that Victoria's Secret's actions taken during the pandemic to close stores, cut back on new inventory, and not pay rent for the month of April were in violation of the agreement that the two parties had made in February. L Brands immediately issued a statement saying that a termination of the agreement is "invalid," and that it would "vigorously defend" the lawsuit and "pursue all legal remedies to enforce its contractual rights.
L Brands said that it had come to a "mutual agreement" with Sycamore to "terminate" the deal. The company also said that it had reshuffled its management team and would focus on "implementing significant cost reduction actions and performance improvements at Victoria's Secret.
Jefferies analysts described Victoria's Secret's progress as "admirable," after it reported strong fourth-quarter results in early But in May, L Brands put an end to speculation and said that it was no longer looking for a buyer and would split the company in two and spin-off Victoria's Secret to become a standalone company. Read more: Victoria's Secret is experiencing a major comeback after years of declining sales — and Wall Street is salivating.
For you. World globe An icon of the world globe, indicating different international options. Get the Insider App. Click here to learn more. A leading-edge research firm focused on digital transformation. Good Subscriber Account active since Shortcuts. Account icon An icon in the shape of a person's head and shoulders. It often indicates a user profile. Log out. US Markets Loading H M S In the news. Mary Hanbury. Victoria's Secret is the largest lingerie retailer in the US, and has been for several decades.
It achieved explosive success in the late s and s but has been accused of losing relevance in recent years. The company is currently overhauling its brand image, and has abandoned its Angels for activists and entrepreneurs.
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Use our Directory to search more than 3, brands. We may earn a commission on sales made using our offer codes or affiliate links. In , the brand announced that it would no longer air the fashion show. Kloss modeled for Victoria's Secret from to and is a sister-in-law of Ivanka Trump. The lingerie chain has been losing its grip on shoppers by offering underwear that emphasizes the erotic over comfort.
Sales growth at stores open at least a year has tumbled for six consecutive quarters. As social norms defining beauty and sexiness have changed over the years, Victoria's Secret has stuck to the same playbook and lost a large number of customers to its competitors. By contrast, some rival lingerie brands and startups feature models with different body types, skin colors, and gender identities, an inclusive marketing strategy that has won them a good chunk of the market.
Aerie, a lingerie brand owned by American Eagle Outfitters, started featuring non-models in its marketing and advertised unpolished photos of women wearing its products in Target, too, announced a new bra and underwear brand in February , which it said would feature women "in all different shapes and sizes.
Analysts suggest that these competing brands pose significant challenges to Victoria's Secret. Also hurting the brand was Wexner's ties to Jeffrey Epstein , a financier and convicted sex offender who committed suicide in jail last year.
Wexner has apologized for his association with Epstein , but the relationship was damaging to the company's image.
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