Taking full control of its China interests, L Brands, the parent company of lingerie brand Victoria’s Secret, has acquired 26 stores from its franchise partner.
In malls and airports, the Victoria’s Secret Beauty & Accessory (VCBA) retail outlets sell beauty products and accessories.
L Brands CEO Les Wexner has told the US company’s annual meeting that China is the brand’s “second home market”, and because of its complexity needs focus and attention.
“It seems to me that we’re going to be doing most of the heavy lifting anyway,” says international president Martin Waters. “It makes sense we should be in it completely.”
L Brands will also launch flagship stores in Beijing and Shanghai, develop its presence within malls, and develop an online sales model.