The rise and fall of Victoria's Secret, America's biggest lingerie retailer

Posted On: May 12, 2021   |   Posted By: Business Insider

The rise and fall of Victoria's Secret, America's biggest lingerie retailer

Summary List Placement You'd be hard-pressed to find anyone in the US who hasn't come into contact with Victoria's Secret in one way or another. Since the late 1990s, Victoria's Secret has been one of the best-known and most talked-about brands in the country.
It played a powerful role in defining what sexy is in the modern day via its racy lingerie and annual runway shows, which enabled the company to achieve blockbuster sales and reach global status.
But in 2016 the tide turned. Longtime CEO Sharen Turney stepped down, and for the next four years, sales slipped, customers complained that quality had dropped, and analysts became more skeptical about the brand's future.
In February 2020 , the company took action, announcing that it was selling a 55% stake in the Victoria's Secret brand to a private equity firm that promised a major turnaround. Les Wexner, the longtime CEO and chairman of L Brands, which owns Victoria's Secret, also stepped down from the company after nearly six decades at the helm.
But...

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