Victoria’s Secret gave up swimsuit nearly three years ago

Victoria’s secret is bringing back swimwear.

Stuart Burgdoerfer, chief financial officer of Victoria’s secret parent company L Brands, confirmed in a conference call with investors on Tuesday morning that the lingerie giant will bring back swimwear in 2019.

Burgdoerfer said the decision was based on customer feedback.

“Fundamentally, it’s about customers telling us,” he said.
Victoria’s secret spokesperson confirmed that these new products will be available in the spring and online.

In April 2016, Victoria’s Secret cancelled its popular swimwear collection and some of its apparel products to focus on underwear.

In the fourth quarter of 2017 reported in February this year, the company said its decision to withdraw from this category still has a negative impact on its business.

For the 48 weeks ended December 30, 2017, the withdrawal of the swimming and apparel categories respectively had a negative impact on the company’s total and Victoria’s secret comparable sales of approximately 3 percentage points and 5 percentage points,” said the earnings news release.

Still, analysts still believe this is a good business decision.

 

In February, Morningstar’s stock analyst Bridget Weishaar told Business Insider, “They are refocusing on their core. For Victoria’s secrets, this is underwear. I think this is a wonderful move.”

Swimwear used to be the $500 million secret business of Victoria, accounting for 6.5% of its sales, but CEO Les Wexner gave up the company to focus on other business units.

“We are making these changes to accelerate our growth… narrowing our focus and simplifying our operating model,” CEO Les Wexner said at the time. “I am convinced that these changes are necessary for our industry-leading brands to realize their enormous potential.”

Victoria’s secret once dominated the American lingerie market, but in recent years it has lost market share in other brands such as Aerie, which promoted natural beauty and self-acceptance in advertising campaigns. In the most recent quarter, the number of same-store sales at Victoria’s Secret stores fell by 6%. They fell 2%, including the brand’s online channel.

Last week, it was reported that Victoria’s former secret CEO, Jan Singer, would work for the company for two years. On Monday, L Brands announced that John Mehas, the current president of Tory Burch, will hold the position.

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