Victoria's Secret is reportedly leaving the swimwear business, with a source telling the brand will be "exiting out of all current inventory by the end of this year."
While the company hasn't offered an official public statement confirming the change, it issued a press release earlier this month that suggests the rumors are true. Specifically, parent company L Brands ( - ) said it was restructuring the organization into three core business units -- Victoria's Secret Lingerie, PINK and Victoria's Secret Beauty. The release also noted that the company is "focusing resources on core merchandise categories, where the company believes the greatest growth potential exists," which will "involve the elimination of certain merchandise categories."
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While fans of the line might be upset by the news, this is a smart move. Swimwear hasn't been accounting for a significant portion of the brand's sales. This comes amidst heightened competition, including many online only companies. Victoria's Secret saw overall sales rise and might have pressed on. But it has succeeded in the past in refocusing on core businesses.
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