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Victoria's Secret appoints new CEO to uplift sagging results
US lingerie giant Victoria's Secret announced on Monday that it had appointed fashion executive John Mehas as new lingerie CEO, hoping to boost its ailing fortunes.
He will take over in the new year, replacing Jan Singer, who resigned with the brand under fire for slumping sales, idealised glamazonian femininity and reluctance to put larger and transgender models on the catwalk.
His appointment was announced as Victoria's Secret parent company L Brands reported third-quarter results with a net loss of US$42.8 million compared to net income of US$86 million last year.
"Our No 1 priority is improving performance," said L Brands chairman and chief executive officer Leslie Wexner. "Our new leaders are coming in with a fresh perspective and looking at everything ... our marketing, brand positioning, internal talent, real estate portfolio and cost structure," he added.
"I am confident that, under John's leadership, Victoria's Secret Lingerie ... will continue to be a powerhouse and will deliver products and experiences that resonate with women around the globe."
Mr Mehas comes to Victoria's Secret, the lingerie market leader in the United States, from Tory Burch, where he is currently its president.
He previously led Club Monaco for 13 years as president and CEO. He has also worked at The Gap and the department store chain Bloomingdale's.
Ms Singer had been on the job since September 2016. No reason has been publicly announced for her departure.
Earlier this month, Victoria's Secret marketing director Ed Razek provoked uproar on social media for telling Vogue that there was no need for transgender or plus-sized models in this year's fashion show.
"No, I don't think we should. Well, why not? Because the show is a fantasy. It's a 42-minute entertainment special," he said. AFP