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Victoria's Secret taps Rihanna's lingerie company's CEO amid declining sales

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Ceos,Lingerie,Retail

Today's Business Headlines: 8/14/24

Victoria’s Secret lured the CEO of Rihanna’s rival brand Savage X Fenty to jump-start the flailing lingerie maker, the company said Wednesday.

Once-mighty beauty company files for bankruptcy in face of 200 lawsuits linking its talc products to cancer “She understands vertically integrated retail brands and has an intuitive understanding of the consumer landscape, informed by customer insights which are critical for consistently delivering in this industry and its ever-accelerating fashion and economic cycles.”Victoria’s chief financial officer, Tim Johnson, will become the interim CEO until Super joins the company on Sept. 9.

Allegations of sexual misconduct against some of the company’s leaders along with consumers’ changing preferences and the company’s resistance to catering to a more diverse body type, including plus sizes, contributed to it falling out favor.Prior to Savage X Fenty, Super was global CEO of Anthropologie Group of Urban Outfitters Company.

 

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