Victoria’s Secret, the iconic lingerie brand, is set to usher in a new era of leadership with the appointment of Hillary Super, former CEO of Savage X Fenty. Super will take over from Martin Waters, who has been at the helm of Victoria’s Secret since 2021. This leadership change comes as the company grapples with evolving consumer preferences and seeks to reinvigorate its brand in a highly competitive market.
Hillary Super is scheduled to assume her new role on September 9, 2024, marking a significant leadership change for Victoria’s Secret. Martin Waters, who took over as CEO during a challenging period for the company, will remain as an advisor through the end of the month to ensure a smooth transition. Timothy Johnson, the company’s Chief Financial and Administrative Officer, will temporarily serve as interim CEO until Super takes charge.
This leadership shift is seen as a strategic move by Victoria’s Secret to refocus its efforts on driving growth, particularly in North America. As the brand continues to face declining sales and shifting consumer preferences, Super’s appointment reflects Victoria’s Secret’s commitment to reinvention and staying relevant in the rapidly changing fashion industry.
Victoria’s Secret’s Recent Struggles and Reinvention Efforts
Victoria’s Secret has been working hard to recover from a series of setbacks that have affected its market position. The company announced plans for a spinoff from its parent company, L Brands, in 2021 after a deal to sell the brand to private equity firm Sycamore Partners fell through due to the impact of the coronavirus pandemic. This decision marked the beginning of a new chapter for the brand, but challenges persisted.
In recent years, Victoria’s Secret has faced slowing sales and intense competition from newer, more inclusive brands that resonate better with younger consumers. The company has made efforts to reinvent its fashion offerings and redesign its stores to appeal to a more diverse customer base. However, these efforts have been met with mixed results, highlighting the need for a fresh approach to reconnect with consumers.
Hillary Super’s Expertise and Impact at Savage X Fenty
Before joining Victoria’s Secret, Martha Super led Savage X Fenty, Rihanna’s lingerie brand, known for its inclusive approach to sizing and diversity. Her success in building a brand that resonates with young consumers, particularly those valuing inclusivity, is expected to be valuable in revitalizing Victoria’s Secret. Super’s previous experience at Anthropologie Group also highlights her ability to drive growth in major retail companies.
Victoria’s Secret board chair Donna James believes that Super can significantly boost the company’s sales in North America. James praised Super’s experience in retail and her ability to understand customer needs, which she sees as crucial for success in the fast-changing fashion industry.
Super’s task will be to help Victoria’s Secret regain its market dominance by focusing on what modern consumers want—brands that reflect their values, needs, and lifestyles. She will likely focus on deepening Victoria’s Secret’s connection with customers through innovative product offerings and marketing strategies that resonate with today’s fashion-forward and socially-conscious shoppers.
The announcement of Super’s appointment has already had a positive impact on the company’s stock. Victoria’s Secret shares jumped by more than 14% before the market opened, indicating investor optimism about the leadership change and the potential for a turnaround under Super’s guidance.
Looking ahead, Super’s leadership will be crucial in steering Victoria’s Secret through its transformation and positioning the brand for long-term success. By leveraging her experience in building brands that align with consumer values and preferences, she has the opportunity to breathe new life into Victoria’s Secret and help it reclaim its place as a leader in the lingerie and fashion industries.
With Super at the helm, Victoria’s Secret is poised to embark on a new journey toward revitalization, aiming to balance its storied legacy with the demands of modern consumers. Whether this new direction will lead to sustained growth remains to be seen, but there is no doubt that Super’s appointment marks a significant step forward for the brand.
