Victoria’s Secret & Co. is reorganizing management and laying off 160 positions

The American company Victoria’s Secret & Co. announced on Tuesday that it will change the management structure of the company and reduce 160 positions. The purpose of these changes is to combine the company’s three lines of business – Victoria’s Secret, Pink and Beauty – into one collaborative organization.

A new company from the L Brands group (renamed Bath & Body Works, Inc), Victoria’s Secret & Co. has been reviving the famous lingerie brand’s outdated image in recent years. The company reorganization announced on July 12 is part of this development context.

VS&Co CEO Martin Waters explains in a press release: “Over the past year, we’ve made a thoughtful revolution in our business, redefining the VS brand and renewing our growth strategy. Now we can better communicate and represent our millions of customers around the world. As a result, we have a more relevant brand positioning, a more compelling product range and a more inclusive culture that honors our people. With our brand revolution well underway and gaining momentum, now is the time to rethink our leadership structure to better adapt to the changing consumer environment and become more effective as an organization. »

These changes are accompanied by a 5 percent reduction in head office staff, or 160 executive positions. The company says it plans to invest in non-executive roles focused on executing the company’s strategic initiatives. Therefore, the company will reduce the estimated costs by 40 million dollars (39.8 million euros).

Three new appointments at Victoria’s Secret & Co

The merger of the Victoria’s Secret & Co. brands will be implemented in a collaborative organization led by Amy Hauck, who has been appointed CEO of Victoria’s Secret and Pink. Under his leadership, VS&Co will integrate sales, planning, marketing and creative teams to quickly apply best practices and consumer insights, accelerate the company’s testing and learning agenda, and ultimately better engage customers with VS and Pink, the statement said.

This restructuring is accompanied by two other appointments. Greg Uniss as Chief Growth Officer and Kristine Rupp joining VS&Co as Chief Customer Officer. Greg Uniss will be responsible for the VS&Co-Lab platform, new business development, international expansion and M&A opportunities, while Kristine Rupa will be responsible for building the store and e-commerce business. – flawless trading worldwide, as well as sales and profitability worldwide. both channels.

Victoria’s Secret & Co., which is distributed in 70 countries, achieved revenues of more than 2.1 billion euros in the fourth quarter of 2021, which is 4 percent more than in the same period a year earlier.

Georgie Collins

"Falls down a lot. Writer. Passionate alcohol maven. Future teen idol. Hardcore music practitioner. Food fanatic. Devoted travel fan."

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