Victoria’s Secret UK has bounced back after entering into liquidation

The Love Cloud Collection 2022 Credit: Victoria’s Secret

VICTORIA’S SECRET UK has bounced back after entering into liquidation in 2021 with all 25 shops being closed due to the pandemic.

A joint rescue bid undertaken by US parent L Brands and the Next Group saw the UK business resurrected and they now trade from 27 UK stores and a popular website.

It was known that the company had some difficulties in the US as well where it operated around 1,000 stores and at one time was responsible for 25 per cent of all US intimate lingerie sales.

Although business picked up considerably in 2021, it has now had to lower its 2022 first quarter forecast to around $80 to $110 million which compares unfavourably with sales of $225 million in the same quarter last year.

It says that the reasons are two-fold, firstly because of increased supply chain costs and also because it didn’t receive the federal stimulus support it did last year.

Despite this, actual sales volume is up by some 25 per cent and it reported that overall operating income for 2021 was $869.5 million which saw a complete turn around from the overall operating loss of $101.5 million for 2020.

Having recognised that the mood of the market has swung away from the overtly sexual nature of the Victoria’s Angels and their annual runway shows, the company has positioned itself as being more aware of the average woman who wants to look and feel attractive.

Their 2022 Love Cloud Collection features a total of 18 models of different age, ethnicity and size likely to appeal to a very wide range of customers including those based in Spain and the UK.

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