Say it ain’t so.
Victoria’s Secret will stop selling bikinis in order to focus on activewear, BuzzFeed News reports. Although the brand’s swimwear represented $500 million of their business (they even produced a CBS special to present the collection), sales reports don’t appear nearly as promising.
Victoria’s Secret parent company L Brands reported lower-than-expected earnings for the swimwear in August. In addition to cutting bikinis, Vicky’s will also lay off 200 jobs and bring a halt to their iconic catalogs, shifting the business into three defined divisions: Victoria’s Secret lingerie, Victoria’s Secret beauty, and Pink.
Could there by a worse time for this news to come? After all, the weather is finally starting to break and summer is right around the corner. Still, VS is expected to continue to sell swimwear until the end of this year.
SOURCE: BuzzFeed News, Cosmopolitan | PHOTO CREDIT: Twitter
Victoria’s Secret To Stop Selling Bikinis & Focus On Activewear was originally published on globalgrind.com
