The Victoria's Secret Fashion Show, which grew into a televised extravaganza featuring performances by famous musicians, was also cancelled in 2019. Victoria's Secret shuttered 20 stores in 2018 amid a poor annual sales performance, ending the year with former CEO Jan Singer resigning last November. Lais Ribeiro walks the runway at the 2018 Victoria's Secret Fashion ShowĪside from a small rise in the first quarter in 2018, the lingerie retailer had falling sales every quarter since the fourth quarter in 2016. Parent company L Brands was already facing questions over its owner's relationship with Jeffrey Epstein. Victoria's Secret opened its first flagship store in London's Bond Street in 2012, and staged its first catwalk show in 2014, but recent years have been more challenging.
#VICTORIA SECRET DELIVERY TO UK TV#
Hundreds of stores opened coast to coast and 25million brochures were delivered, but it was the glitzy launch of Victoria's Secret's first blatantly sexy catwalk show at the Plaza Hotel, New York in 1995 which made the difference.īroadcast on network TV to 185 countries, millions tuned in to see supermodels Naomi Campbell, Helena Christensen, Tyra Banks and Karen Mulder parade in their underwear.Ĭelebrity endorsements rolled in, music stars such as Katy Perry and Taylor Swift performed at company shows and in 2004 Bob Dylan even agreed to take part in its TV commercial. He chose the name Victoria after Queen Victoria, thinking it sounded refined, and added Secret to refer to what was hidden under the clothes. Raymond latertook his own life by jumping off the Golden Gate Bridge in San Francisco. In 1982, he sold the company to clothing magnate Les Wexner for $1million – a fraction of its current value. The company was founded in 1977 by US businessman Roy Raymond, who set up a small chain of boudoir lingerie shops when he could find no man-friendly women's stores. The company has also faced accusations of misogyny and last year axed its annual runway show amid claims its marketing is over-sexualised.Ī-list celebrities such as Kyle Jenner have also worked closely with Victoria's Secret, taking to the catwalk for the brand in 2018. He also purchased a $10million plane on the company's behalf, according to the Wall Street Journal. Pictured: A shop in Ho Chi Minh City, VietnamĪt one point, Epstein is said to have flaunted his role as a Victoria's Secret 'recruiter' to entice women to meetings and harass them. The retailer said it had hired administrators in June 2020 after being affected by the coronavirus lockdown. Leslie Wexner, the CEO of L Brands who stepped down last year, faced backlash for his association with financier Jeffrey Epstein, to whom he allowed vast power over his financial decision-making before his demise amid charges of sex trafficking. While many managed to stay afloat by clinging onto government support, several businesses were been forced to call in administrators.ĭebenhams, Cath Kidston and Laura Ashley are among the big high street names who have fallen victim to the virus.īut before coronavirus pounded the global economy, the parent company L Brands was already facing questions over its billionaire owner's relationship with Mr Epstein.Ī recent Netflix documentary, Jeffrey Epstein: Filthy Rich, pored over their friendship, which it claimed stretched back to 1986.įor two decades Epstein was personal wealth adviser to Wexner and reportedly tried to influence the selection of Victoria's Secret models. The majority of these locations, like those in the UK, temporarily closed last year when the coronavirus pandemic hit the US. Victoria's Secret has 849 stores in North America. The company had previously announced it planned to permanently close 250 stores in the United States and Canada in 2020. In May last year, private equity vehicle Sycamore Brands pulled out of a 525million US dollar (£407 million) deal to take a 55 per cent stake in Victoria's Secret. 'As administrators we'd like to thank them and all of the employees for their support, at what we appreciate is a difficult time.'
'We will now work with the existing management team and broader stakeholders to assess all options available for the future of the business. 'The effect of the lockdowns, combined with broader challenges facing bricks and mortar retailers, has resulted in a funding requirement for this business, resulting in today's administration.
Pictured: The Victoria's Secret on New Bond Street Judge Sally Barber considered the case at a hearing in the Insolvency and Companies Court earlier this week.
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