Victoria’s Secret closes 250 stores in the United States but opens in Settimo – La Stampa


TORINO. It seems like a paradox. In the rest of the world, it closes its stores, a few steps from Turin opens a new store. It is at the Outlet Village of Settimo Torinese that Victoria’s Secret, lingerie brand founded in 1977 by Roy Raymond, has decided to open its next store.

The Percassi group has in fact started the search for a store manager who takes care of the management of the entire store and, according to the announcement, “to communicate the culture and spread the values ​​of Victoria’s Secret by making the brand known and retaining customers of the Settimo Torinese store ».

The Percassi business company has been chosen as the only franchising partner for Italy, Spain and France and currently manages ten points of sale, including those in Milan and Madrid.

This is how the brand is described on the website of the company that deals with the development and management of the commercial networks in our country of other major brands such as Starbucks, Lego, Gucci and Nike: «Victoria’s Secret is the main retailer specialized in the sale of lingerie and beauty products. The brand is known for its modern and fashion-inspired collections, for the prestigious fragrances, the famous supermodels and the world-famous fashion shows ».

The upcoming inauguration of the store at the Settimo outlet amazes, especially if we consider the financial situation of the group. The American parent company Victoria’s Secret, controlled by the L Brands group, famous for having hired the most coveted models in the world and for organizing opulent fashion shows that entered the collective imagination, after having lived the most successful years at the beginning of the new millennium due to financial problems caused by the coronavirus in May reported the closure of 250 stores in North America.

Furthermore, after announcing the sale of 55% of the company to Sycamore in the past few months, it was the private equity fund that pulled back at the end of April. Thus canceling the financial transaction. As further evidence of at least precarious corporate stability, there is also the recent news of the failure of the British branch of Victoria’s Secret.

At the beginning of June, the brand, which controls 25 stores in the United Kingdom employing 800 employees, was in fact placed under bankruptcy and the Deloitte studio was appointed its administrator.

In Italy, the brand’s first store was opened in Rome in 2018 and today has 13 stores concentrated mainly in Lombardy. Between Milan, Brescia and Bergamo there are six. The first store in Piedmont to be inaugurated in the Settimo luxury shopping center.

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