The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
The lingerie brand reported net sales of $1.5 billion for the first quarter of 2022, a decrease of 4.5 percent compared to the same period the year prior. The drop was in line with expectations that sales would decrease between 4 percent and 8 percent, according to the company.
CEO Martin Waters attributed the decline to “significant global headwinds and a challenging inflationary environment.” The company expects second-quarter sales to either increase or decrease by a low-single-digit percentage compared to the same period in 2021. Victoria’s Secret is experimenting with its business model after spinning off from L Brands last year. It announced a wholesale partnership with Amazon to sell its VS Beauty line earlier this year.
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Victoria’s Secret Reports Favourable Fourth-Quarter Earnings But Forecasts Downturn
The lingerie giant beat analysts’ estimates for its earnings and sales in the quarter ending January 29, 2022, garnering $2.175 billion in revenue and $246.1 million in net earnings.
This week’s round-up of global markets fashion business news also features Burberry’s trademark dispute in China, pan-African e-tailer Jumia and South Korea’s investigation into Coupang.
The growing popularity of ‘T-beauty’ brands across Asia has made their home country an increasingly important market for global players.
The showcase translated the company’s global insights consumer study into scent profiles, technologies and fragrances.
The Estée Lauder-owned premium fragrance house has signed a two-year deal with the actor in a bet to seize more of the men’s market.