Victoria’s Secret Brand CEO Resignation: Amy Hauk, the CEO of Victoria’s Secret brand, left her position on Tuesday, the business announced.
According to the firm, Hauk, who served as CEO of the company’s teen-targeted Pink apparel line, gave notice of her resignation last week. In March, she will leave Victoria’s Secret.
The parent business of the company, Victoria’s Secret & Co., Martin Waters, will take over as the brand’s CEO.
During Tuesday’s after-hours trading, shares of Victoria’s Secret fell 8% in response to the news.
As some customers abandoned Victoria’s Secret’s marketing, which featured supermodels and “Angels” fashion presentations, and shifted to specialty bra makers, the company has struggled recently. Some loyal customers stopped buying Victoria’s Secret clothes after the company was rocked by controversy about founder Leslie Wexner’s connections to Jeffrey Epstein.
The company changed the way it advertised, started utilizing more diverse models, and stopped hosting its Angels fashion show. Adore Me, a new challenger, was also purchased by the business for $400 million. It was finalized last week.
But since the pandemic began, Victoria’s Secret sales have been inconsistent.
During Covid-19’s peak in 2020, sales declined, but they recovered in 2021. This year, there may be a drop of up to 7%.
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