Victoria’s Secret is almost as well known for swimsuits as it is for lingerie. For the last two years, the brand has even produced a splashy TV swim special for CBS to showcase the collection. That’s all over now, though. According to BuzzFeed News, Victoria’s Secret will stop selling swimwear after this year, replacing at least some of that space in its stores with activewear.
Victoria’s Secret’s parent company L Brands said early last year that swimwear represented roughly $500 million in business for the brand annually, but reported lower-than-expected sales for swimwear last August.
Les Wexner, the CEO of L Brands, said in a statement earlier this month that the company was “making these changes to accelerate our growth and to strengthen the business for the long term by narrowing our focus and simplifying our operating model.”
Victoria’s Secret also said earlier this month that they will be moving away from its iconic catalogues and reorganizing the business into three divisions: Victoria’s Secret lingerie, Victoria’s Secret beauty, and Pink.
A rep for Victoria’s Secret had no comment when asked to confirm the news.
From: Harper’s BAZAAR US
