Victoria’s Secret Reportedly Announces Leadership Change At Its Adore Me Brand: Here’s The Update

Victoria’s Secret & Co. (VSCO) on Monday reportedly announced a leadership change at its Adore Me brand, bringing in Christine Vellani to lead the company.

According to a Bloomberg report citing a person familiar with the matter, Adore Me founder Morgan Hermand-Waiche has left the company.

Victoria’s Secret’s shares traded 0.18% lower in Monday morning’s session. Retail sentiment on Stocktwits around the company was in the ‘bullish’ territory.

According to the report, Victoria’s Secret and Hermand-Waiche agreed that it is the right time for the Adore Me founder to transition to “enable the next phase of growth” for the brand.

Victoria’s Secret acquired Adore Me in 2022 in a deal valued at $400 million. The brand started with plus-size lingerie before expanding to offer products in other sizes.

At the time, Victoria’s Secret said the Adore Me acquisition brought technology to the forefront of everything the brand did. However, in May, the company said it was hit by a cyberattack, forcing the San Francisco-based retailer to delay its first-quarter earnings.

While it warned that the cyberattack could weigh on its future earnings, it stopped short of detailing the impact of the incident and whether or not customer data was compromised.

The lingerie and beauty retailer also adopted a “poison pill” plan for a limited period to fend off a hostile takeover attempt following a substantial accumulation of shares by BBRC International, an entity controlled by Australian activist shareholder Brett Blundy. The company also underscored that BBRC launched a new venture that it described as a “global lingerie, sleepwear, and beauty brand.”

VSCO stock is down 46% year-to-date and 9% in the past 12 months.

Also See: Tesla Model Y L Coming Soon To China, Says EV Giant In A New Teaser

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