Victoria’s Secret getting rid of swimwear line
NEW YORK (WISH) – If you are a fan of Victoria’s Secret swimwear line, you may want to stock up.
The company said it’s laying off workers and restructuring its business to focus on three units: Victoria’s Secret Lingerie, Victoria’s Secret Beauty and PINK.
The company is taking away 300 home office associates in New York City and its headquarters in Columbus, Ohio. Victoria’s Secret has more than 3,000 stores in the United States, Canada and the United Kingdom.
“Coming off a record year, now is the best time to make improvements,” said Leslie Wexner, a 77-year-old billionaire who founded the company in 1963 and replaced Sharen Jester Turney as CEO less than two months ago. “We are making these changes to accelerate our growth and to strengthen the business for the long term by narrowing our focus and simplifying our operating model,” Parent company L Brands said.
Victoria’s Secret said it would integrate its business as a primarily digital channel. They said they are wanting to align with how customers engage with the brands.CNN contributed to this report.