After so much controversy in the last few years, the Victoria’s Secret was bought by the company the private equity industry Sycamore Partners, which now owns 55% of the brand. In this way, the company has$ 525 million, within the$ 1.1 billion mark in the valley. Accordingly, the company is privately owned. The decision relates to the segments of Lingerie, Beauty and Pink. The announcement was made last Thursday (20/02/2020).
Come with me!”
The other part of the company is 45 percent, will continue in control of L Brands, which pay a portion of the purchase price. The separation of the SETS of L Brands becomes easy for the brand Bath and Body Works. Of these 45%, is the founder and chief executive officer of L Brands, Leslie Wexner owner of 17%.
“We are confident that you, as a private company, the Victoria’s Secret allows you to focus on the long-term results. We are convinced that, by she said, with a significant share and our shareholders the opportunity to participate in a significant upward trend in potential for these brands, the iconic (lingerie, Beauty and Pink) have,” Wexner.
The operation of the Executive, is to leave the position of executive director. He will continue to work in the administrative area of the the holding companyin the role of chairman emeritus. The change in the relationship, the mother had already been announced in the international press, at the end of January.
Victoria’s Secret, owned by the L Brands in 1982, when it was purchased from Roy Raymond for the Wexner. The group is responsible for turning her into a giant, from the underwear, the brand has become. However, the lack of representation, both in marketing and in the products that he has made, the public interest in the brand.
Bras in the trash
In the last 10 days, the network news, which had in the U.S. 9News an impact on the story of Melanie Gelinas, a resident of the United States. The woman, who lives in the same apartment building, where there was a surplus from the Victoria’s Secret” has found hundreds of Bras and other stuff in a trash can next to the venue.
“You’re all in a landfill. You would go to a shelter for the homeless or a refuge for abused women,” complained Gelinas. In response, a spokesman for the brand, he regretted what had happened, and he said that the only parts of the trial were destroyed. The Rest of the stock was re-allocated to other outlets, according to the professional level.
At the beginning of February, an article in the New York Times featured stories of the models and staff (current and former) of the brand, in the alleged harassment and the misogyny behind the scenes of the brand. These are just a few of the many controversies surrounding the VS.
Over the years, the brand was criticized for selling a standard of beauty that is not out of date, they represent the majority of the female consumers, lingerie. Another factor that has brought about far-reaching consequences for the brand, it was an interview with a former marketing chief Ed Razek, in the year 2018.
The management Board is responsible for the dissemination of the image of the sexualised women. On the question of rejection of the brand including the models plus size and transgender people in the walkway of the traditional annual parade of the brand,” he replied with a comment, it deserves more critical because of the tone of prejudice.
“I don’t think we have this kind of model, because this show is a fantasy. It is 42 minutes of entertainment,” he said at the time. In November of that year, and models plus size Cross against the view of the Executive.
In August 2019, Razek, he resigned, but after the first time a model of trans you will have the main role in a campaign for the brand, with the Brazilian time, in the second half. A few months earlier, in Jan singer, the chief executive officer of the company, there was also a need to stop. The starting point for the (slow) way of diversity was not enough.
The annual parade of the brand, the world-famous Victoria’s Secret Fashion Show was canceled to come up with the option, back with a new format.
To make matters worse, the holiday season is expected as until 2019. In relation to the year 2018, the revenues for the period of 4 billion decreased from$ to US$ 3.9 billion.
Even by 2019, and more than 100 models, have addressed an open letter to John Mehas, chief executive officer of Victoria’s Secret. In the text, asked for the accommodation and protection of the If You against the cases of sexual harassment and sexual abuse. Not to forget the scandal, the sex trade, with a former adviser to the Wexner, Jeffrey Epstein, who went on to be obliged, the CEO of the L brands.
Speaking of the angels of the Victoria’s Secret not to be missed, even criticism of one’s own top models. In an interview, the top model Karlie Kloss said she has left the brand “one of the women is the best.” Bella Hadid, for its part, has said that he is never powerful on the catwalk for the brand.
With the purchase of most of the brand from Sycamore Partners, a brand of lingerie you gain a new position, and get back on their feet?
Together With Herbert Wood