Victoria’s Secret cedes control of China

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28 January 2022 à 10h45

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1 minute

Publication: 28 January 2022 à 10h45

Reading time: 1 minute

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Publication

28 January 2022 à 10h45

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Publication: 28 January 2022 à 10h45

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On Jan. 25, 2022, Victoria’s Secret (VS) announced a joint venture in China, 49% owned by Chinese rival Regina Miracle and 51% owned by the company.

The Chinese partner, a former supplier of VS, invested US$45 million. It will operate both stores and e-commerce operations. Following business turmoil since 2019, the lingerie Group (turnover of US$1.4 billion in Q4 2021 up by 3.7%) is trying to reinvent itself and regain market share and clientele, which left among DNVBs favo

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