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.
As part of its plan to spin off the lingerie line, L Brands formally registered the new entity with the US Securities and Exchange Commission Monday, June 21.
The separation is expected to take place in August, after which Bath & Body Works and Victoria’s Secret will be two independent public companies. Analysts estimate the latter’s valuation to be around $5 billion.
While Victoria’s Secret has lost market share in recent years, the intimates giant is working on revamping both its business model as well as brand image to consumers. In an effort to shed its outdated oversexualised image, Victoria’s Secret got rid of its “angels” and hired a diverse group of seven women to advise and be the face of the brand, including soccer star Megan Rapinoe, model Paloma Essler and actress Priyanka Chopra Jonas.
“We believe Victoria’s Secret and Bath & Body Works will achieve new levels of success and unlock significant value for all stakeholders by pursuing growth strategies best suited to each company’s customer base and strategic objectives,” L Brands’ chief executive Andrew Meslow said in a statement.
Malls across the US have been ‘flash robbed’ by groups of about 20 to 30 suspects stealing retail merchandise.
BoF Careers provides essential sector insights for fashion professionals in retail this month, to help you decode fashion’s retail landscape.
The sportswear giant’s lifestyle and fashion division is set to release a new campaign and “visual identity” to emphasise the cultural cachet of its Samba, Gazelle and Superstar sneaker franchises.
European retailers have been unlikely stock market stars this year, but a long spell of high borrowing costs and inflation has started to bite, so wary investors will be looking for reassurances from the likes of H&M and Zara-owner Inditex when they issue business updates this week.