Victoria’s Secret CEO Jan Singer steps down

The chief executive of Victoria’s Secret’s key lingerie division has stepped down from the retailer after just two years.

Jan Singer, who previously held a senior executive role at Nike, left her position as head of rival underwear brand Spanx to join Victoria’s Secret in 2016.

For the past few years, the once-dominant lingerie brand has come under scrutiny from consumers and investors alike, seeing its stock price drop 39 per cent in the year to date, alongside a two per cent drop in like-for-like sales in its latest quarter.

As consumer sentiment has largely shifted towards more body-inclusive lingerie brands like Rhianna’s Savage X Fenty, Victoria’s Secret has struggled to move along with it.

Singer was hired in an attempt to rectify this by understanding consumers better and “aggressively” seeking out new customers.

L Brands, which owns Victoria’s Secret, is due to make an official statement on Singer’s departure on Monday.

It is not yet clear who her replacement will be.

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