Next is being touted as being the preferred party to become the UK franchise partner for distressed lingerie brand Victoria’s Secret. There has been no formal announcement yet from either its US owners or the administrators. Earlier rumours implied that Marks & Spencer had expressed interest.
Believed by many to offer the best future trading opportunity for the L Brands owned brand, Victoria’s Secret UK operations were recently placed in administration. Meanwhile, in the US around 25 per cent of stores were being permanently closed.
If indeed, Next does secure the UK rights to the brand it is not known if it will take over any of the Victoria’s Secret store leases or offer roles to any of the retailer’s former staff. There are 25 UK shops.
Pundits suggest it will be more likely that Next would major on driving online sales and give space over to Victoria’s Secret concessions in its larger stores., rather than add to its store estate.
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