Super Joins from Rival Savage X Fenty at a Critical Time of Transition for the Brand
Victoria’s Secret has appointed Hillary Super, previously the CEO of Savage X Fenty, to lead the brand at a critical time of transformation. She will be succeeding Martin Waters, who will be leaving the company. Super officially takes over his role on September 9th.
Donna James, Victoria’s Secret’s chair, announced in a statement that Super would help initiate the “next chapter” of the business as part of their new strategy for “accelerating growth in our core business in North America”.
Super, whose brief period as CEO of Savage X Fenty began in June 2023, saw her driving a celebrity-influenced, ultra-inclusive fashion lingerie brand. Savage X Fenty, since its launch in 2018, saw rapid expansion, drawing attention away from Victoria’s Secret with its high-profile models and a televisied runway show.
Aside from her recent experiences at Savage x Fenty, Super boasts an extensive resume, including titles such as Global CEO of the Anthropologie Group, along with merchandising and operational roles at recognizable brands like Guess Inc., American Eagle Outfitters Inc., Gap Inc., and Ann Taylor Inc.
Victoria’s Secret Chair of the Board Donna James expressed her confidence in Super’s abilities, stating,
She understands vertically integrated retail brands and has an intuitive understanding of the consumer landscape, She is aware of customer insights, which are critical for consistently delivering in this industry and its ever-accelerating fashion and economic cycles.”
Victoria’s Secret has been showing signs of improvement. Upon announcing the new CEO, they also shared that second-quarter adjusted earnings are expected to fall between 34 cents to 39 cents per share. This is well ahead of their prior guidance of 5 cents to 20 cents per share and notably higher than the 16 cents analysts had predicted according to Yahoo Finance. Their sales for the quarter are expected to fall by 1 to 2 percent, as compared to the previously projected downfall of 1 to 3 percent.
The company has seen its share of challenges, as it underwent a long period of reinvention to stay in-line with customer expectations. Efforts were made to demonstrate that the brand was listening to women rather than commanding them, leading to a notable shift in their runway show format. However, sales still dipped by 9 percent last year, along with a decrease in adjusted net income from $416 million to $178 million.
After various corporate transformations and a failed takeover attempt by Sycamore Partners, Victoria’s Secret was spun out via an initial public offering in 2021, but its market capitalization has slipped from a peak of $7 billion to $1.5 billion today.
Despite the hurdles, Super is optimistic about Victoria’s Secret’s future. She stated, “The strength of these iconic brands, supplemented by an incredible beauty business, provides numerous opportunities for future growth. I look forward to making VS & Co the world’s leading fashion retailer of intimate apparel, rapidly expand our cultural influence, and create a dominant global market position to grow shareholder value.”