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.
The brand known for its traditional and ornate Chinese aesthetic will be one of the first major C-beauty players to go global when it touches down in the US and Japan later this year.
Join us for a special Masterclass, as BoF’s luxury editor Robert Williams, along with a panel of experts, unpack our latest case study Inside Hermès’ Best-in-Class Leather Goods Strategy.
The former Vogue Ukraine fashion director and LVMH Prize finalist’s upcycled tailoring label Bettter aims to become a platform that helps big brands give deadstock garments new life.
Beauty megadeals may be few and far between over the near term, but M&A will still be critical for buyers and sellers seeking growth, innovation and competitive product portfolios, reports The State of Fashion: Beauty.