Victoria's Secret Is Sailing In Treacherous Waters As New Leadership Is Named
/Victoria’s Secret stock has fallen 47% in the year to date, while the S&P 500 SPX has gained 14%. Victoria’s Secret had sales of $1.4 billion in first quarter 2023 and only made $3.8 million — a 95% decrease in earnings.
I’ve said many times that if Victoria’s Secret isn’t careful, Savage X Fenty and SKIMS are going to take the business down. And I mean kaput down.
With LVMH backing Savage X Fenty via L Catterton, their incubator investment arm, and Kim Kardashion on the road now, raising $1 billion for her own venture capital fund — and also appearing on the cover of TIME Magazine, this Victoria’s Secret selling the message of “undefinable” breaks every rule of marketing I know about. And the customers seem to agree.
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