Say it ain’t so! Victoria’s Secrets is killing off their apparel, accessories, and swimwear lines!
The move is an effort to streamline the business and re-focus on the brand’s core categories — lingerie, athletics, and beauty.
We’re all surprised swim isn’t one of those categories, but VS’s chief financial officer Stuart Burgdoerfer explained in a transcript reported by MarketWatch, “We came to the conclusion that the swim business was not one of those core categories, that it had been a flattish business for the last several years.”
Although lost sales from the discontinued businesses will put some financial pressure on the uber-popular intimates company, they are confident about the long-term benefits.
The changes, which also include axing their catalog for more digital media marketing, are expected to save them money and offset losses.
There’s one loss they can’t make up for though, and that’s the one we feel seeing our go-to summer swimwear destination die. It’s a good thing there’s nothing a little retail therapy can’t heal.
Victoria’s Secret is holding a huge swim sale online right now!
WANT MORE FROM ESSENCE? Subscribe to our daily newsletter for the latest in hair, beauty, style and celebrity news.Share :