For years, Victoria’s Secret was synonymous with its annual fashion shows where an array of supermodels—dubbed “Angels”—paraded the brand’s latest intimate offerings. In the process, the brand also cemented its reputation as one that excluded several groups including plus-sized shoppers, people of color, and trans people, among others.

The company was slammed for promoting unrealistic beauty standards, sexism, and discrimination while its top executives were ousted for claims of sexual misconduct—all leading to a dip in its market share as competitors began to embrace more inclusive and plus-sized offerings. Fast-forward to 2021: Its otherwise problematic corporate leadership was out the door as the brand embarked on an overhaul strategy by hiring a diverse range of brand ambassadors and promoting inclusive messaging in its campaigns.

While it elicited a healthy dose of skepticism among consumers, Victoria’s Secret has come a long way since, with swimwear and intimates lines that feature an expanded size range; bringing on trans, plus-sized, and Black models; and extending its styles and fabrications.

The retailer’s recent acquisition of AdoreMe, a DTC women’s intimates brand known for its extended sizing, marked another signifier in its commitment to redeeming itself from a dubious past.

“AdoreMe was a huge investment and a huge signifier to the community to say, ‘We’re not just saying that we’re doing this. We’re actually doing it,’” Erin Schmidt, senior analyst at Coresight Research, told Retail Brew.

A new chapter: The revamp, however, is more than just about rebranding, it’s about connecting with modern and younger consumers through social media imaging and new styles.

Slow and steady: For any brand, including Victoria’s Secret, to be able to replicate what others, like Abercrombie & Fitch, have accomplished, it needs to keep a few key things in mind, starting with turning words into actions.

Keep reading here.—JS

Since we finally finished that Ziploc of leftover Thanksgiving Pillsbury crescent rolls, we’re shifting our focus to a different kind of role, particularly in retailers’ C-suites. In November, lots of retailers said hello to new CEOs, while others saw some major departures, so we rounded up the most noteworthy people moves of the month.

• After Kohl’s faced pressure to change up its leadership, its CEO, Michelle Gass, is leaving the retailer to join Levi Strauss & Co. as president, and eventual CEO over the next 18 months. Tom Kingsbury, a Kohl’s director and former Burlington Stores CEO, will serve as interim CEO.
• Adidas tapped Puma CEO Bjørn Gulden as its next chief executive, effective January 1.
• Puma promoted Chief Commercial Officer Arne Freundt as its new CEO and board chairman.
• Sephora named LVMH Fashion Group Deputy Chief Guillaume Motte as its new CEO, replacing Chris de Lapuente, who has served as CEO since Martin Brok left in June.
• Bath & Body Works’s new CEO is Gina Boswell, joining the retailer after serving as head of Unilever UK and Ireland.
• As Party City looks to optimize its supply chain amid many new cost-saving efforts, it named Peter Smith as its new COO. He joins from children’s apparel company Carter’s, where he served as EVP of global supply chain.
• Dollar Tree added a slew of new C-suite roles, including Yeti VP of ESG Jennifer Silberman as chief sustainability officer and Terence Goods, former VP of diversity and inclusion at Southern Glazer’s Wine and Spirits, as chief diversity officer.

Resign of the times: The most buzzworthy departure this month was Alesandro Michele, Gucci’s creative director since 2015 and a member of its team for two decades, who stepped down from the fashion brand.

Keep reading here.—EC

Today’s top retail reads.

Sigh of relief: Retailers saw moderate to strong growth this Black Friday, but that doesn’t mean they won’t have to worry about a recessionary environment moving forward. Deep discounting is expected to be a major strategy moving into 2023. (Business of Fashion)

Burn(out) notice: For some retail workers, their jobs keep them social and mentally stimulated, but for others, the chaotic work, lack of benefits, and long hours are burning them out. (WWD)

Big catch: Ever wonder what a hotel inside a Bass Pro Shops inside a pyramid looks like? Probably not, but Big Cypress Lodge in Memphis has answered that question. (the Wall Street Journal)

Does your biz impress? In NewStore’s 2023 Omnichannel Leadership Report, shoppers assessed the omnichannel chops of 300 US brands. Was your brand one of ’em? Find out who made the list here.*

^{*This is sponsored advertising content.}

The numbers you need to know.

Retailers were cautiously optimistic for this year’s Black Friday/Cyber Monday shopping season, and it turns out—by and large—consumers seemed pleased with what they saw.

As Retail Brew reported earlier this week, e-commerce shopping grew from last year to a record $9.12 billion in sales. Cyber Monday was even more significant as sales increased to another record $11.3 billion, according to Adobe, which said demand, not just inflation, explained the bump.

About 61% of shoppers were pleased with the promotion and deals that were available during Black Friday weekend, with 25% saying they were very pleased and 36% reporting they were somewhat pleased, according to a 1,000-person survey conducted by Blue Yonder.

• It appears shoppers may have been largely holding out for Cyber Monday, as 60% of those surveyed said they spent less than normal during the Black Friday weekend.

Despite more strict return policies, 25% of shoppers said they are likely to return an item this year, which is a major jump from 16% the National Retail Federation predicted would be returned in 2021.

The shifting holiday shopping season is also very much real: 48% of shoppers said they have completed over half of their holiday shopping, while almost another quarter (23%) said they’re at least 75% of the way through their shopping.

Catch up on the Retail Brew stories you may have missed.

• Coupon and cash-back services navigate tough economic times
• The wine industry is obsessed with NFTs
• Behind the curtain of department stores’ holiday-window displays