Victoria’s Secret brand CEO Amy Hauk has left her position after less than a year on the job as the company struggles in the wake of its disastrous woke reforms.
On Tuesday, the company announced that Hauk would be stepping down from her position as CEO of its Pink apparel brand for teens and the overall company brand.
According to CNN Business, Martin Waters, CEO of parent company Victoria’s Secret & Co., will take her place.
“Shares of Victoria’s Secret dropped 8% on the news during after-hours trading Tuesday,” noted the outlet.
“Sales tumbled in 2020 during the peak of Covid-19 but bounced back in 2021,” it added.
“They are projected to fall by up to 7% this year.”
Last summer, the company stoked controversy when it scrapped the iconic Victoria’s Secret Angels.
Instead, the company went “woke” and replaced models with the likes of leftist soccer star Megan Rapinoe.
It even hired the company’s first biologically male transgender model.
However, rather unsurprisingly, the wokeness has not paid off.
Victoria’s Secret fired 160 management-level employees over the summer at its Ohio headquarters in an effort to save the business $40 million.
Notably, sales at the lingerie company dropped by 4.5% to $1.5 billion earlier in 2022, the New York Post reported.
The report adds that comparable sales from the same period in 2021 had declined by 8%.
“When we first announced our repositioning, we got a significant amount of mail from people who said, ‘This is terrible, you’re scorching the earth, you’re spoiling your brand. We love the way it was before. Why are you changing it?’” Victoria’s Secret CEO Martin Waters said, denying the changes hurt the company.
In 2019, the company hired its first transgender model, Valentina Sampaio, a biological male who “identifies as female.”
The move came as longtime VS chief marketing officer Ed Razek, who criticized the idea of hiring transgender models for the company’s fashion show, resigned.
“It’s like, why doesn’t your show do this?” Razek told Vogue in 2018 when asked about so-called inclusivity.
“Shouldn’t you have transsexuals in the show?”
“No. No, I don’t think we should. Well, why not?
“Because the show is a fantasy.
“It’s a 42-minute entertainment special. That’s what it is.”
And by 2021, the iconic VS Angels were dropped and replaced with a new promotional campaign called the “VS Collective.”
“Fashion is a business of change,” CEO Leslie Wexner said in 2019, announcing the end of the Angels fashion show broadcast.
“We must evolve and change to grow.
“With that in mind, we have decided to rethink the traditional Victoria’s Secret Fashion Show.”
Rapinoe was tapped as one of the women to be in the new campaign.
The choice was apparently based on her far-left activism and “woke” achievements rather than her body or looks.
The soccer star notably slammed the company she teamed up with for its “patriarchal” and “sexist” past.
The marketing was “patriarchal, sexist, viewing not just what it meant to be sexy but what the clothes were trying to accomplish through a male lens and through what men desired,” she complained to The New York Times.
“And it was very much marketed toward younger women.”
Rapinoe added that the VS Angels were “really harmful.”