By Lisa
Victoria’s Secret – which has been aggressively overhauling its brand during the past year to appeal to a more diverse range of customers – likewise plans to tweak its name.
The lingerie giant said Monday it will be renamed Victoria’s Secret & Co. when it splits off from L Brands in August and becomes an independent, publicly traded company.
The change comes amid a flurry of news around the quickly transforming business, which last week unveiled a new marketing campaign and collection – VS Collective – featuring seven women including soccer star Megan Rapinoe, 17 year-old American skier Eileen Gu and tech investor and actress Priyanka Chopra Jonas.
Its famous “Angels,” who over the years have included supermodels Heidi Klum, Tyra Banks and Gisele Bundchen, will be phased out of the company’s marketing after years of complaints that it excluded women with more natural looks and normal body types.
The company also announced last week a new board of directors, on which six of the seven directors are women.
“This is an exciting time for all of us at Victoria’s Secret,” chief executive Martin Waters said in a statement. “The progress we have made over the last year underscores our commitment to driving profitable growth, creating new opportunities for our talented associates and evolving our brand and product to reflect the diverse experiences, passions and perspectives of our our customers.”
Victoria’s Secret & Co. also will encompass the company’s Pink brand – which is focused on teens and women in their 20s.
L Brands also owns Bath & Body Works, which will become an independent company in August as well. Its name will remain the same.
The Ohio-based company founded by billionaire Les Wexner, which has also been boosting profits at Victoria’s Secret by slashing costs and scaling back discounts, has seen its stock surge 69 percent year to date versus an 11 percent increase in the S&P 500.
