Victoria’s Secret Appoints Hillary Super from Savage X Fenty as CEO
In a surprising move, Victoria’s Secret has announced the appointment of Hillary Super from Savage X Fenty as its new chief executive. This decision marks a significant shift in leadership for the iconic lingerie brand, as Super takes the helm from Martin Waters, who has been serving as CEO since 2021. The transition is set to take place on September 9, with Waters stepping down from his role and offering his guidance as an advisor through the end of the month. In the interim, Chief Financial and Administrative Officer Timothy Johnson will step in as the interim CEO to ensure a smooth transition process.
The decision to appoint Super as the new CEO comes at a crucial time for Victoria’s Secret, as the company has been grappling with slowing sales and the need to reinvent its image and offerings. Plans for a spinoff from its parent company, L Brands, were already in motion following the collapse of a deal to sell the company to private equity firm Sycamore Partners amid the challenges posed by the COVID-19 pandemic. With Super’s experience and success at Savage X Fenty, which caters to a younger demographic and was co-founded by Rihanna, Victoria’s Secret is poised to tap into new markets and revitalize its brand.
Super brings a wealth of experience to her new role at Victoria’s Secret, having previously served as the Global CEO of Anthropologie Group, an Urban Outfitters Company. Her track record of success in leading retail brands and her deep understanding of consumer behavior make her a valuable asset to the company as it seeks to accelerate growth in its core business in North America. Donna James, Chair of the Board at Victoria’s Secret, expressed confidence in Super’s ability to navigate the ever-changing fashion landscape and drive the company’s success in the coming years.
Implications for Victoria’s Secret
The appointment of Hillary Super as CEO signals a new chapter for Victoria’s Secret, as the company looks to revive its brand and appeal to a wider range of consumers. With Super’s expertise in running a successful lingerie brand like Savage X Fenty, known for its inclusive marketing and diverse product offerings, Victoria’s Secret stands to benefit from her fresh perspective and innovative approach. By tapping into Super’s experience in understanding consumer trends and preferences, the company aims to stay ahead of the curve and meet the evolving needs of its target audience.
The decision to part ways with Martin Waters, who has been at the helm of Victoria’s Secret for the past few years, reflects the company’s commitment to embracing change and adapting to the current retail landscape. As the industry continues to undergo transformation, with e-commerce and digital marketing playing an increasingly important role, having a dynamic leader like Super at the helm is crucial for Victoria’s Secret to stay competitive and relevant. By leveraging Super’s insights and strategic vision, the company is well-positioned to drive growth and innovation in the years to come.
Market Reaction and Future Prospects
Following the announcement of Hillary Super’s appointment as CEO, shares of Victoria’s Secret surged by more than 14% before the market open, signaling investor optimism about the company’s future prospects under her leadership. The market reaction underscores the confidence in Super’s ability to steer the company in a new direction and capitalize on emerging opportunities in the lingerie market. With her proven track record of success at Savage X Fenty and Anthropologie Group, Super brings a wealth of knowledge and experience to her new role, which bodes well for Victoria’s Secret’s growth trajectory.
Looking ahead, Super’s focus on accelerating growth in Victoria’s Secret’s core business in North America is expected to drive the company’s performance and profitability. By leveraging her expertise in understanding consumer behavior and market dynamics, Super aims to position Victoria’s Secret as a leading player in the lingerie industry and expand its reach to new audiences. With a fresh perspective and innovative strategies, Super is poised to transform the brand’s image and offerings, appealing to a diverse range of consumers and driving long-term success for the company.
In conclusion, the appointment of Hillary Super as CEO of Victoria’s Secret marks a pivotal moment for the iconic lingerie brand as it looks to reinvent itself and appeal to a new generation of consumers. With her proven track record of success and deep understanding of consumer trends, Super is well-equipped to lead the company through its next phase of growth and innovation. As Victoria’s Secret embarks on a new chapter under Super’s leadership, the future looks bright for the brand as it seeks to reestablish its position as a market leader in the lingerie industry.