Victoria Secret Bathing Suits Fashion Show

Victoria's Hugger-mugger is bringing back its fashion bear witness, an event in one case and then popular that it crashed the net, only has been criticized in recent years as existence out of bear on in the #MeToo era.

CEO Martin Waters didn't have any details to disclose virtually the improvement of the show during Monday's investor presentation other than to say it will be different from the shows of the past, reflective of a company undergoing a transformation from the 1 that was fronted by rail-thin models called Angels.

"Our intent is to get back into the fashion testify business organization," he said. "Of class we should. It'due south an outstanding equity and one we can utilise to our advantage. We just need to do so in a way that is culturally relevant.''

The final show was in 2018, attracting the fewest viewers since it debuted on television in 2001. The almanac upshot began in 1995.

Victoria'due south Hush-hush has replaced its models with a more than a diverse group called the VS Commonage that includes soccer star Megan Rapinoe, actress Priyanka Chopra Jonas and LGBTQ model and activist Valentina Sampaio, the first transgender model to be featured in the Sports Illustrated Swimsuit Issue. The visitor'south new lath is fabricated up of all women except for Waters.

Waters began the presentation past acknowledging the retailer's missteps.

"It begins with an admission we got information technology wrong," he told analysts. "Nosotros lost relevance with the modernistic woman. She told us very conspicuously to change our focus from how people expect to how people feel, from being about what he wants to beingness virtually what she wants.''

After a period of strong growth, Waters said the company lost its connection to its customer, underinvested in its digital business and overinvested in its stores in contempo years.

The retailer has changed its focus to one that uplifts and champions women, he said.

"Our vision is pretty ambitious: To be the world's leading abet for women,'' he said.

Waters said the company has several growth opportunities, including maternity, shapewear, bra launches, bridal and bigger sizes, and it plans the reintroduction of swimsuits, he said. Victoria's Secret also is counting on continued expansion of online sales and partnerships with other brands.

The company also says in that location is room to expand sales overseas. It is working to refresh its stores and will brainstorm testing a store of the future this fall, he said.

Victoria's Secret and Bathroom & Body Works made investor presentations Monday every bit L  Brands finishes preparations to split them into separate public companies constructive Aug. ii.

Final week, L Brands raised its earnings guidance for its second quarter, forecasting a profit of $1.xx to $1.thirty per share. The onetime guidance had been 80 cents to $ane.

The company said sales for the nine weeks that ended July 3 totaled $2.35 billion, about 70% higher than the year ago when many of the company'southward stores were airtight because of the pandemic.

The companies are going it lonely every bit the man who put them together to become L Brands continues his move abroad from the visitor.

L Brands founder Les Wexner has completed the sale of more than $2 billion worth of stock in L Brands that he and his wife, Abigail, command, in recent days, leaving him with most five million shares, or 1.8% of the company's shares. It is the 3rd such sale that the 2 have done in contempo months.

The sales come a yr after Wexner retired equally chairman and CEO. This jump, he and his wife left the company's board.

Bath & Torso Works has benefited from strong soap and sanitizer sales during the pandemic, simply CEO Andrew Meslow said the company is a leader across all of the categories it serves in fragrance and body care. He said the company believes at that place is plenty of room to grow in existing and new categories of business such equally hair and skin care.

"While the business has delivered exceptional recent results, Bathroom & Body Works we believe is pointed to capitalize on substantial growth opportunities that withal lie alee, and we're well positioned to deliver strong profitability," Meslow said.

mawilliams@dispatch.com

@BizMarkWilliams

Both companies gave rosy outlooks almost the future.

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