Victoria’s Secret CEO Amy Hauk resigns as Adore Me takeover settled

(Source: Bigstock)

Amy Hauk, CEO at Victoria’s Secret, will leave her position – a decision revealed within hours of the completion of the lingerie giant’s acquisition of Adore Me.

Victoria’s Secret said Hauk would quit her role on March 31 in order to spend more time with her family in Florida. She will also step down as brand CEO of Pink, the sister firm that sells items geared toward teenagers, that she managed before moving into the broader group CEO role.

Martin Waters, the current CEO of Victoria’s Secret, will continue to oversee the business while also taking on the role of brand CEO. Hauk’s position is not expected to be replaced.

Hauk has led Pink since 2018 and she was named CEO of Victoria’s Secret last July. Prior to that,  she had served as Bath & Body Works’ chief merchant and executive vice president of merchandising.

In 2021, Victoria’s Secret broke away from L Brands to form a standalone business. Earlier this week, the company finalised the acquisition of the entire stock of the digitally native intimates brand Adore Me.

“From the beginning, we evaluated Adore Me as a two-for-one opportunity – a technology-led, digital-first innovator in the intimates category and a highly efficient, growing and profitable standalone business model,” said Martin Waters, CEO of Victoria’s Secret.

According to the company, the acquisition opens up “meaningful sales and profit” opportunities for VS&Co, including the chance to take advantage of Adore Me’s knowledge and technology to further enhance the shopping experience for Victoria’s Secret and Pink customers and hasten the modernisation of VS&Co’s digital platform.

Victoria’s Secret reported that Adore Me generated an anticipated $250 million in profitable sales during the 2022 year, and will serve as an “important long-term growth” vehicle for VS.

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