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Is Victoria's Secret phasing out its bikinis? It seems like a drastic move, but Buzzfeed's Sapna Maheshwari reports it will happen by the end of 2016.
Notes from analysts reveal that VS parent company L Brands "will be eliminating swim from stores and online," and Buzzfeed said that two anonymous sources confirmed that swimwear will be gone as a category. A note from Citigroup analysts revealed that Victoria's Secret is planning on launching a new activewear line that would take the place of swimwear in its stores.
Victoria's Secret told Buzzfeed it had "nothing to offer beyond our earlier release," and said that more details will be shared on its May earnings call. Racked reached out to a Victoria's Secret spokesperson and will update this post if necessary.
The brand has killed entire categories before. In recent years, the company phased out all of its regular apparel to focus more on its core lingerie business, and it killed an entire cosmetics line while overhauling the rest of its beauty products.
Adding more fuel to the fire, swimwear hasn't always been a hit at VS. "Swim has been my biggest disappointment, and we did it to ourselves," Victoria's Secret former CEO Sharen Turney said on a conference call last summer.
Victoria's Secret is also doing away with one of its most famous products: its catalogue. In reporting its March sales results, L Brands noted that it will be "evolving how the business connects with consumers through more focus on loyalty programs and brand-building engagement rather than traditional catalogues and offers." It's a move that could save L Brands more than $100 million a year, but will the Victoria's Secret Angels be the same without the catalog?
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