Victoria's Secret has a new CEO for its lingerie business
- Victoria's Secret has a new CEO to run its lingerie business.
- John Mehas, who is currently president of Tory Burch, will be taking up the position. He replaces former CEO Jan Singer, who was at the company for two years.
- The brand has struggled in recent years and did not show signs of a comeback during its most recent quarterly earnings, reported on Monday. Same-store sales numbers were down 6% at Victoria's Secret stores during the quarter. They were down 2% including the brand's online channels.
Victoria's Secret has a new CEO to run its lingerie business.
On Monday, parent company L Brands announced that John Mehas, who is currently president of Tory Burch, will be taking up the position and replacing former CEO Jan Singer, who was at the company for two years.
"John is an outstanding retail merchant and we could not be more excited for him to lead Victoria's Secret Lingerie to a new phase of success," L Brands CEO Les Wexner said in the company's third-quarter earnings release on Monday.
He continued: "Our number one priority is improving performance at Victoria's Secret Lingerie and PINK. In doing so, our new leaders are coming in with a fresh perspective and looking at everything … our marketing, brand positioning, internal talent, real estate portfolio and cost structure."
Victoria's Secret has struggled in recent years and did not show signs of a comeback during the most recent quarter. Same-store sales numbers were down 6% at Victoria's Secret stores during the quarter. They were down 2% including the brand's online channels.
Mehas also has experience at Club Monaco, Gap, and Bloomingdales.