By Tamia Ncube
- Rihanna’s Savage X Fenty former CEO Hillary Super joined Victoria’s Secret and stocks jumped above 14%
- Victoria’s Secret, trailing behind other luxury brands, has seen its sales plunge to a disheartening 18.4% since early 2024
Victoria’s Secret (VSCO +1.67%) garnered attention recently due to a major development. The stock price experienced a significant surge of 14% following the announcement of Hillary Super, the former CEO of Savage X Fenty, as the new leader. This transition in leadership marks a pivotal moment for Victoria’s Secret as it endeavors to navigate the evolving global lingerie market landscape while addressing recent challenges of low sales and dismal performance.
Why this Matters: In 2024, Victoria’s Secret encountered substantial difficulties as sales plummeted by a notable 18.4% and extensive losses were incurred. This trend reflects a larger shift impacting numerous luxury brands, with their reputations appearing to wane. Victoria’s Secret’s reputation score declined from 74.9 in 2021 to 73.2 in 2023, indicating a decrease in consumer confidence and a growing gap with the brand’s target audience. These issues have been exacerbated by changing consumer preferences, particularly a focus on inclusivity, diversity and cultural relevance, an area in which Savage X Fenty, under Super’s leadership, has excelled.
Despite these challenges, the global lingerie market is on the rise, expected to grow from $55 billion in 2023 to $60 billion in 2024. This presents a substantial opportunity for Victoria’s Secret to reclaim its position, provided it can successfully revamp its approach. Super’s successful leadership at Savage X Fenty, a brand that disrupted the market with its inclusive approach, is seen as a potential game-changer for Victoria’s Secret.
What’s Next: The market’s reaction to Super’s appointment demonstrates a sense of cautious optimism regarding her ability to lead the brand towards a more culturally relevant and financially stable future. Her mandate will be to capitalize on the growing market while revitalizing a brand that has struggled to maintain its relevance. The intersection of business and culture will be crucial as Victoria’s Secret seeks to rebuild its reputation and reclaim its position in the global lingerie market.
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