Victoria’s Secret is diving back into swimwear in many of its physical locations.
The lingerie giant, which is owned by L Brands Inc., began selling swimwear online in early 2019 after a three-year vacation from the category. Now, swimsuits from the brand’s heritage collection, along with new styles and extended size offerings (up to 38 DDD and XL in some pieces), will be available in select stores.
Brands such as Ayra Swim, Baobab, For Love & Lemons, Monica Hansen Beachwear, Roxy, Skinny Dippers and Vitamin A Swimwear can also be found on the company’s website. In addition, the 2021 Swim “Magalog” will be available after March 1.
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Swimwear returns to select Victoria’s Secret stores. Courtesy Photo
But the innerwear brand has been in recovery mode for the last 18 months. L Brands, which also owns the Bath & Body Works brand, unveiled plans to sell the Victoria’s Secret business — including the Lingerie, Beauty and Pink divisions — in February 2020 for $525 million to private equity firm Sycamore Partners.
The deal fell through amid the pandemic, however. Three months later, the company said it would take Victoria’s Secret private, unlocking value in the lucrative Bath & Body Works brand as it stands alone on the public market.
Victoria’s Secret has also added a string of senior-level hires over the last few months to help turn the business around and has updated the assortment and marketing materials. It has also sold a majority stake of the Victoria’s Secret U.K. business to Next plc and closed hundreds of unprofitable stores to make way for more lucrative markets, such as Milan and Israel.
“All options, including a spin-off of the Victoria’s Secret business into a public company or a private sale of the business, are being evaluated,” the company said earlier this month.
Shares of L Brands, which were up more than 2 percent at the start of Tuesday’s trading session, have risen about 100 percent, year-over-year.
The company will report quarterly earnings on Feb. 24 after the market closes.
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