US giant Victoria’s Secret announced Monday that it had appointed John Mehas, a longstanding fashion businessman as new CEO, hoping to boost its ailing fortunes.
Mehas will take over in the New Year, replacing Jan Singer, who resigned with the brand under fire for slumping sales, idealized glamazonian femininity and reluctance to put larger and transgender models on the catwalk.
His appointment was announced as Victoria’s Secret, the lingerie market leader in the United States, reported third-quarter results with a net loss of $42.8 million compared to net income of $86 million last year.
“Our number one priority is improving performance,” said chairman and chief executive officer Leslie Wexner of parent company L Brands.
“Our new leaders are coming in with a fresh perspective and looking at everything... our marketing, brand positioning, internal talent, real estate portfolio and cost structure,” he added.
“I am confident that, under John’s leadership, Victoria’s Secret...will continue to be a powerhouse and will deliver products and experiences that resonate with women around the globe.”
Mehas comes to Victoria’s Secret from Tory Burch, where he is currently president. He previously led Club Monaco for 13 years as president and CEO. He has also worked at The Gap and Bloomingdales.
Singer had been on the job since September 2016. No reason has been publicly announced for her departure.