Victoria’s Secret, which has spent the last year aggressively rebranding itself to appeal to a broader spectrum of customers, also intends to change its name.
The lingerie behemoth announced Monday that it would change its name to Victoria’s Secret & Co. when it separates from L Brands in August and becomes an independent, publicly-traded company.
The change comes amid a flurry of news surrounding the rapidly evolving business, which last week launched a new marketing campaign and collection called the VS Collective, which features seven women, including soccer star Megan Rapinoe, 17-year-old American skier Eileen Gu, and tech investor and actress Priyanka Chopra Jonas.
Its infamous “Angels,” who have included supermodels Heidi Klum, Tyra Banks, and Gisele Bundchen over the years, will be phased out of the company’s marketing platform following years of criticism that they ignored women with more natural appearances and typical body types.
Additionally, the corporation introduced a new board of directors last week, with six of the seven members being women.
“This is an exciting time for all of us at Victoria’s Secret,” chief executive Martin Waters said in a statement. “The progress we have made over the last year underscores our commitment to driving profitable growth, creating new opportunities for our talented associates, and evolving our brand and product to reflect the diverse experiences, passions, and perspectives of our customers.”
Victoria’s Secret & Co. will also include the company’s Pink brand, which caters to teenagers and women in their twenties.
Among L Brands’ holdings is Bath & Body Works, which will be spun off from the company in August. Bath & Body Works will continue to operate under its current name.
The billionaire Les Wexner founded the Ohio-based company, which has also been increasing profits at Victoria’s Secret by cutting costs and reducing discounts. It has seen its shares rise by up to sixty-nine percent year to date, compared to the S&P 500’s 11 percent gain.