Evan Agostini | Invision | AP
Jan Singer, Victoria’s Secret CEO
The CEO of Victoria’s Secret’s lingerie division, Jan Singer, has resigned as well as also plans to step down after working at the retailer For just two years, a person briefed on the matter told CNBC.
The lingerie company, owned by L Brands, has struggled to grow sales as younger shoppers turn to more inclusive bra as well as also underwear retailers. Singer joined Victoria’s Secret via Spanx as well as also had been trying to “aggressively” seek out completely new customers with completely new products as well as also by understanding shoppers better.
L Brands shares initially fell Wednesday morning on the news of Singer’s departure yet were recently up about 1 percent.
The company will be anticipated to share more details about Singer’s departure on Monday, when L Brands reports quarterly earnings, said the person, who requested anonymity because the announcement isn’t yet official. This specific wasn’t immediately clear who Singer’s replacement would certainly be.
of which person will be tasked with improving the brand’s appearance to consumers. Female shoppers today are increasingly turned away by Victoria’s Secret overtly sexy image, which will be reinforced by its annual fashion show. The brand was made famous for its brightly colored push-up bras, yet more women at This specific point are searching for comfort as well as also fit. A handful of bra as well as also underwear upstarts, like ThirdLove as well as also Adore Me, are gaining ground by being more inclusive.
Shares of L Brands are down about 38 percent so far This specific year.
The Wall Street Journal first reported on Singer’s departure Wednesday afternoon.
Incoming search terms:
- Jan Singer out Victorias Secret