Victoria's Secret Poaches Talent From Rivals, Beefs Up Top Deck To Revive Growth: Retail Investors Not Sold Yet

Fashion label Victoria’s Secret & Co. (VSCO) announced a series of leadership appointments on Tuesday, its latest effort to revive growth amid increasing competition.

The lingerie brand hired Adam Selman as a senior vice president. Selman was previously the chief designer at Rihanna-owned lingerie brand Savage X Fenty.

It appointed Alex Mill senior executive Ali Dillon as president of PINK, a sub-brand that targets younger consumers.

Amy Kocourek, previously the chief merchandising officer at Kendra Scott, will take over as president of Victoria's Secret's beauty business.

Finally, it promoted chief merchandising officer Anne Stephenson as president of Victoria’s Secret.

The appointments come at a time of weakness in the business.

Victoria's Secret's net sales dropped 1% to $6.23 billion in its last fiscal year, which ended Feb. 1.

Shares are down about 65% from the recent peak in December.

The company faces challenges from celebrity brands like Savage X Fenty and Kim Kardashian's Skims, as well as evolving consumer preferences favoring comfort and inclusivity.

Among other growth efforts, Victoria’s Secret has reintroduced its fashion show, emphasizing inclusivity by featuring plus-size and transgender models.

On Stocktwits, the retail sentiment was 'bearish' with low message volume, unchanged from the previous day.

One bearish user noted that consumers have lately moved to cheaper products, hurting VSCO's business

VSCO shares are down about 60% year to date.

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