A lady sporting a protecting masks passes a homeless particular person throughout the coronavirus pandemic on Might 12 2020 in New York Metropolis.
John Lamparski | Getty Photos
L Manufacturers introduced Wednesday a brand new head of its Victoria’s Secret lingerie enterprise, as it really works to revive the model.
Efficient instantly, the corporate has tapped Martin Waters, present head of L Manufacturers’ worldwide division, as CEO of Victoria’s Secret, changing John Mehas, who has served within the position since February 2019.
L Manufacturers shares have been down round 2% in early buying and selling.
It additionally named Laura Miller, beforehand chief human sources officer at Royal Caribbean Cruise Traces, as chief human sources officer of Victoria’s Secret. It has promoted Becky Behringer to EVP of its North America retailer gross sales and operations division. And Janie Schaffer, beforehand a director on the British retailer Marks and Spencer, was named chief design officer of Victoria’s Secret Lingerie.
“With their collective experience and dealing collectively alongside all the management group at Victoria’s Secret, we are going to proceed to drive the enterprise ahead and reposition it for achievement,” mentioned Sarah Nash, chair of L Manufacturers’ board, in a press release.
L Manufacturers earlier this month reported better-than-expected quarterly outcomes, with report gross sales at Bathtub & Physique Works and better demand at Victoria’s Secret. Similar-store gross sales on the latter have been up 4%, boosted by gross sales of sleep and lounge put on. Extra ladies are in search of snug garments to put on as they spend extra time at house throughout the pandemic.
L Manufacturers shares are up 116% by this yr. The corporate has a market cap of $10.8 billion.