Victoria’s Secret has been trying to get back on track after a major slump in sales in past few months.
The brand’s parent company, L Brands has laid off over 50 employees ranging from senior leaders to junior staffers, at its Columbus, Ohio, headquarters.
The move has reduced the staff at the head office by 15 per cent.
Among the people stepping down is the head of Victoria’s Secret’s stores and store operations, April Holt, a 16-year-old veteran at the company.
Becky Kritek-Behringer, currently Senior Vice President of store operations, will take over April’s responsibilities until a suitable successor is named.
An L Brands spokesperson said “We’re on the all-important journey to turnaround the Victoria’s Secret business. As we’ve said, everything is on the table including having the right talent in the right places.”
The spokesperson also said “Today we announced new leadership positions and organisational changes that help us simplify the business which allows us to be more agile. We believe these efficiencies are crucial to the evolution of our brand.”
Edward Razek, Chief Marketing Officer, L Brands, had resigned earlier this year. Victoria’s Secret CEO Jan Singer left suddenly at the end of last year and was replaced by former Tory Burch President John Mehas.
Analysts claim that Holt’s decision is an indication of the brand’s failing attempt at a turnaround.
Some of the reasons behind the recent failure of the brand are the fact that the brand has not evolved to be inclusive which is imperative in today’s age. Female consumers are turned off by sexy marketing, dimly lit stores and somewhat stale product assortment.
Victoria’s Secret just recently started featuring its first plus-size model. It’s also ending its annual fashion show, as viewership has fallen off.
