Victoria’s Secret Lingerie CEO resigns

According to people familiar with the matter, the head of Victoria’s Secret Underwear left the company after more than two years in the position.

Jan Singer, chief executive of L Brands Inc., is responsible for more than $4 billion in underwear business, including Victoria Sport. The former head of Spanx joined Victoria’s Secret in September 2016.

 

L Brands declined to comment. Bloomberg reported that after the departure, the company’s share price has dropped. So far, this year’s share price has fallen by about 39%.
Victoria’s secrets have been closely scrutinized for failing to keep up with changing consumer demands, especially those involving women’s empowerment and pluralism. With the advent of rivals such as Rihanna’s lingerie company Savage X Fenty and ThirdLove, the silence of change has become more apparent, with the aim of more inclusive women of different shapes, sizes and backgrounds. Underwear trends also turn to comfort and sportiness, not lace, padding and push-ups.

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