Barington Capital Group has acquired more than 1% of Victoria’s Secret and is pressing for significant changes in the Company’s Board and Commercial Strategy.
The activist investor revealed his participation on Monday and the State plans that the continuous acquisition of shares. In a letter to President Donna James, Barington said she will urge Victoria’s secret to replace most members of her board and re -behere in her central bra business. The firm also sees growth potential in the company’s beauty segment.
Barington’s movement adds to the pressure of another great investor, BBRC International, which at the beginning of this month criticized Victoria’s secret for poor management. In response, the company adopted a poison pill strategy to limit more stake increases.
Victoria’s Secret reported better expected sales in the first quarter, but yielded the soft consumer demand for the current quarter. A security incident in May also forced a temporary closure of the website.
The retailer has lost about 50% of its market value in 2024 and faces a greater scrutiny of investors about their strategy, leadership and composition of the Board.