The CEO of Victoria’s Secret ‘s lingerie division, Jan Singer, has resigned a little over two years after she took the job, the Wall Street Journal first reported citing people familiar with the matter.
— Victoria's Secret (@VictoriasSecret) November 14, 2018
Victoria’s Secret, the high-end lingerie brand of L Brands Inc, and its teen-focused PINK brand have been losing customers for years as more women shift to cheaper bralettes and sports bras.
In the last two years, quarterly same-store sales of Victoria’s Secret have risen only once.
L Brands CEO Leslie Wexner has been looking to shore up the company’s profits by closing its underperforming Henri Bendel business and reviewing options for its La Senza lingerie brand.
Denise Landman, CEO of PINK, is also leaving the company at the end of the year.