Victoria’s Secret has announced a change in leadership, naming Hillary Super from Savage X Fenty as its new CEO, effective Sept. 9. Super will be taking over for Martin Waters, who became CEO in 2021. Waters will serve as an advisor through the end of the month to assist with the transition process, while Chief Financial and Administrative Officer Timothy Johnson will serve as interim CEO. This move comes as plans were announced for a Victoria’s Secret spinoff from its parent company L Brands, following the collapse of a deal to sell the company to private equity firm Sycamore Partners due to the impact of the coronavirus pandemic on the retail industry.
Victoria’s Secret has been facing challenges with slowing sales and has been working on revamping its fashions and store designs to attract customers. Super’s experience as CEO of Savage X Fenty, a company co-founded by Rihanna that appeals to younger consumers, could help Victoria’s Secret better connect with this demographic. Shares of the company jumped more than 14% before the market open in response to the news. Prior to her role at Savage X Fenty, Super served as the Global CEO of Anthropologie Group, an Urban Outfitters Company. Victoria’s Secret Chair of the Board Donna James praised Super’s understanding of vertically integrated retail brands and consumer insights, stating that she will be tasked with accelerating growth in the company’s core business in North America.
The appointment of Hillary Super as the new CEO of Victoria’s Secret reflects the company’s efforts to adapt to changing consumer preferences and market dynamics. Super’s background in leading successful retail brands and her focus on customer insights will be crucial in driving growth for Victoria’s Secret. The decision to spin off from its parent company comes as part of a strategic move to position the brand for success in a competitive retail landscape. With Super at the helm, the company aims to leverage her expertise to attract a younger demographic and revitalize its image in the market.
The fashion industry has seen significant shifts in recent years, with consumers increasingly demanding authenticity, inclusivity, and sustainability from brands. Victoria’s Secret has been working to align its offerings with these evolving trends, including expanding its size range and promoting body positivity. Super’s experience in leading a brand like Savage X Fenty, which has been praised for its inclusive approach to lingerie and intimate wear, could provide valuable insights for Victoria’s Secret as it navigates these challenges. The company’s decision to focus on accelerating growth in North America suggests a strategic emphasis on its core market and building a strong foundation for future expansion.
As Victoria’s Secret looks to the future under new leadership, it faces the task of repositioning itself in a competitive retail landscape. Super’s appointment brings a fresh perspective to the brand, with a focus on customer-centric strategies and innovation. By leveraging her experience in running successful retail brands and understanding consumer behaviors, Victoria’s Secret aims to drive growth and profitability in the coming years. The company’s decision to spin off from its parent company signals a new chapter for the iconic brand, with Super at the helm leading the charge towards a more inclusive and customer-focused future.
