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CNN Enterprise
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Victoria’s Secret model chief govt Amy Hauk resigned lower than a yr in the past, the corporate stated Tuesday.
Hauk, who was additionally CEO of the corporate’s teen clothes model Pink, notified the corporate of her resignation final week, the corporate stated. She can be leaving Victoria’s Secret in March.
Martin Waters, CEO of the model’s dad or mum firm, Victoria’s Secret & Co., will take over as CEO of the model.
Victoria’s Secret shares fell eight% on the information throughout after-close buying and selling on Tuesday.
Victoria’s Secret has struggled in recent times, with some clients rejecting its supermodel-heavy advertising and marketing and “Angels” trend exhibits and switching to area of interest bra manufacturers. With Victoria’s Secret additionally thrown into turmoil over founder Leslie Wexner’s ties to Jeffrey Epstein, her garments fell out of fashion with some longtime consumers.
The corporate revised its promoting, started utilizing a broader vary of fashions, and completed its Angels trend present. The corporate additionally purchased Adore Me, a brand new rival, for $400 million. That deal closed final week.
However Victoria’s Secret gross sales have been uneven for the reason that begin of the pandemic.
Gross sales fell in 2020 through the peak of Covid-19, however rebounded in 2021. They’re projected to fall as a lot as 7% this yr.