Victoria’s Secret nabs Tory Burch exec as new CEO
L Brands wasted no time in naming a new leader to replace Jan Singer, who resigned last week as CEO of Victoria’s Secret after two years on the job.
John Mehas was appointed CEO of Victoria’s Secret Lingerie, effective early 2019. He is currently president of women’s luxury apparel brand Tory Burch. Prior to that, he led Club Monaco, a Polo Ralph Lauren brand, for 13 years as president and CEO. Mehas gained his early retail and merchandising experience at The Gap and Bloomingdales.
Mehas will have his work cut out for at Victoria’s Secret as the retailer struggles with declining sales amid heavy competition from such brands as Aerie and Rihanna’s Savage x Fenty line and rising online players like ThirdLove. Victoria’s Secret’s overtly sexy image has come under fire for being tone deaf in today’s #metoo era, and the brand has also been called out for its lack of inclusivity and diversity.
“Our number one priority is improving performance at Victoria’s Secret Lingerie and Pink,” said L Brands chairman and CEO Leslie Wexner.
Wexner went on to say that the brand’s new leaders will be looking at “everything,” including marketing, brand positioning, internal talent, real estate portfolio and cost structure.
“Most importantly,” he added, “we are focused on our merchandise assortment – it all starts with the customer saying ‘I’ll take it.’ I am confident that, under John’s leadership, Victoria’s Secret Lingerie, the world’s leading lingerie brand, will continue to be a powerhouse and will deliver products and experiences that resonate with women around the globe.”
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