The rise, fall, and comeback of Victoria's Secret, America's biggest lingerie retailer
And on November 21, 2019, the company confirmed that it had officially canceled its runway fashion show that year.Dimitrios Kambouris/Getty Imagesthat the fashion show didn't have a big impact on boosting sales at the brand.
While these were potentially positive changes, the brand found itself caught up in a new challenge in the summer of 2019: its CEO and the company being linked to convicted sex offender Jeffrey Epstein.
In February 2020, the company announced that Wexner would be stepping down as chairman and CEO of L Brands but would stay on as chairman emeritus and sit on the board of directors. At the same time, it announced that it was selling a 55% stake in Victoria's Secret to private-equity firm Sycamore Partners.
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