Retail in Asia


Victoria’s Secret brand CEO resigns

Victoria’s Secret & Co. announced on Tuesday that its Victoria’s Secret brand CEO Amy Hauk has resigned less than a year into the job.

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Hauk, who was also CEO of the company’s Pink apparel brand geared to teens, notified the company of her resignation last week, according to a filing with the Securities and Exchange Commission.

She will leave Victoria’s Secret in March this year, after taking on the top job in July 2022.

Martin Waters, the CEO of the brand’s parent company, Victoria’s Secret & Co., will take over as CEO of the brand in the interim.

Shares of Victoria’s Secret dropped 8 percent on the news during after-hours trading Tuesday.

The resignation is the latest in a series of major changes at the American lingerie giant. In 2021, Victoria’s Secret was spun off from L Brands, which also owns Bath & Body Works, becoming a publicly traded company.

In November, Victoria’s Secret acquired online intimates brand Adore Me, supporting its goal to become the world’s leading retailer of intimate apparel. Earlier that year, Victoria’s Secret also took a minority stake in U.S. swimwear brand, Frankies Bikinis and opened its first India store in September.

In July, it bowed its first-ever fine fragrance line and in April, unveiled its debut celebrity male brand ambassador, Darren Barnet.

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While the company does not disclose its sales results for Asia, international sales at Victoria’s Secret grew to USD 163.5 million for the third quarter ending October 29, up 43 percent, from USD 114.5 million in the prior-year quarter. For the first nine months of the year, international sales grew 35 percent to USD 434.9 million, compared to USD 323.2 million.