Martin Waters is bringing Victoria’s Secret to the big dance on Wall Street with an especially tricky two-step.
The chief executive officer reintroduced the brand to investors and analysts with a presentation on Monday, setting up the retailer’s Aug. 3 spin off, when Victoria’s Secret and Bath & Body Works will officially be established as independent companies, which will effectively break up what had been L Brands Inc.
All together, it’s a major change for Victoria’s Secret, which ranks as the largest U.S. intimates brand with a roughly 20 percent share of the market. Waters described the 2009 to 2015 period as the brand’s “growth years,” but then “rather politely, I call the period 2016 to 2019, our execution missteps.”
Victoria’s Secret, though, is moving from one world to the next with a host of advantages that leave it — no matter what damage has been done — a force to be reckoned with in the intimates space.
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