{"id":162958,"date":"2020-01-30T07:53:34","date_gmt":"2020-01-30T07:53:34","guid":{"rendered":"https:\/\/www.theindustry.fashion\/victorias-secret-owner-in-talks-over-possible-sale-and-exit-of-ceo\/"},"modified":"2021-08-12T14:06:39","modified_gmt":"2021-08-12T14:06:39","slug":"victorias-secret-owner-in-talks-over-possible-sale-and-exit-of-ceo","status":"publish","type":"post","link":"https:\/\/www.theindustry.fashion\/victorias-secret-owner-in-talks-over-possible-sale-and-exit-of-ceo\/","title":{"rendered":"Victoria's Secret owner in talks over possible sale and exit of CEO"},"content":{"rendered":"
Victoria's Secret owner L Brands is reported to be in talks with the struggling lingerie giant's billionaire founder and CEO\u00a0Leslie Wexner about either stepping aside or selling the business.<\/strong><\/p>\n <\/p>\n The US-based global lingerie chain has found itself out of step with the market in the post-#Metoo era<\/strong> with its over-sexualised imagery and non-inclusive approach to marketing.<\/p>\n Its once high profile fashion show in which some of the world's top models (dubbed \"Angels\") walked the catwalk in wings and elaborate lingerie<\/strong> has been cancelled, having previously attracted millions of viewers on TV and across social channels globally.<\/p>\n However the brand was criticised for its lack of inclusivity when it came to casting and for appearing to encourage models to undertake gruelling diet and exercise regimes<\/strong> in order to participate.<\/p>\n Its problems were compounded by Wexner, a former chief of Abercrombie & Fitch, having been associated with the late, disgraced financier Jeffrey Epstein.<\/strong> Wexner has said he was \"embarrassed\" by his association with Epstein, which ended in 2007, and who had been his personal financier and a trustee of the Wexner Foundation.<\/p>\n The Wall Street Journa<\/em>l first reported news of a possible sale of the business or the removal of the 82-year-old CEO and said L Brands was keen to reach an agreement in the coming weeks, though there was no guarantee that it would. The company has declined to comment though L Brand's shares jumped yesterday<\/strong> on the back of the speculation.<\/p>\n Victoria's Secret, which has around 25 UK stores and a flagship on London's Bond Street, has also struggled to compete with upstart brands entering the lingerie market<\/strong>, such as American Eagle\u2019s Aerie in the US, offering more inclusive designs and promoting body diversity.<\/p>\n","protected":false},"excerpt":{"rendered":" […]<\/p>\n","protected":false},"author":11,"featured_media":136982,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[6,10494],"tags":[15857,10769,15182],"acf":[],"yoast_head":"\n