Chuan Wei Will Stop Swimming For 500 Million Dollars And Turn To Sports Apparel.

It is reported that this month announced the layoffs and restructuring of underwear, beauty brand.

The secret of Vitoria has been announced that it will stop the $1 billion swimsuit business and turn to the more popular sportswear.

One of the sources said that the secret of Victoria 's Secret, Vitoria will clean up all swimsuit stocks by the end of the year.

For the hearsay, Victoria s Secret's Secret parent L Brands Inc. (NYSE:LB) spokesman declined to comment, saying the details of the restructuring will be disclosed in detail next month's annual meeting in Vitoria.

In April 8th, investment bank Citibank Inc. (NYSE:C) Citibank also released a report that the secret of Victoria 's Secret Vitoria will stop swimsuit business and turn into development business.

Swimsuit business now accounts for about 6.5% of L Brands Inc.'s business, or about $500 million, while analysts say the business is expected to reach a $1 billion business.

L Brands Inc. announced its restructuring plan in early March. The restructuring plan only involved the secret brand of Victoria 's Secret Vitoria, which suddenly lost its chief executive Sharen Turney two months ago. Its goal is to further focus on its core commodity category and streamline its operation. The specific measures include reorganizing its business into three major business units: Victoria s Secret Lingerie (secret underwear), (girl's series underwear), and "Wei" ("beauty beauty"). Leaders of each unit need to report directly to the founder, chairman and chief executive of the company.

Victoria 's Secret

It will also cut about 200 office posts in L Brands Inc. group headquarters in New York and Columbo, Ohio, and cancel individual commodity categories to invest more resources in core categories with the greatest growth potential.

In addition, the direct business (direct selling business), which is mainly composed of directory business, will be pformed into the secret channel of Victoria 's Secret Vitoria and PINK's digital channel to reflect the change in the buying pattern of young consumers nowadays.

The secret directory of Victoria 's Secret, Vitoria, reached 400 million of its peak in 1998, and then dropped to 368 million in 2000, two years later. Since then, the group no longer publishes the data.

In the past few years, the group has been reducing its directory expenditure, from $474 million in fiscal year 2011 to $414 million last year.

Despite the rapid growth of L Brands Inc. over the past few years, Sharen Turney, the secret chief executive of the group's main brand Victoria 's Secret, Vitoria, has expressed its brand in August last year.

It is disappointing and says swimsuit design is out of date.

In March, L Brands Inc. had a 3% increase in the same store sales, which was 2% of the total expected, but far less than 7% of the same period last year.

Net sales in March were $1 billion 27 million, up 4.7% from $981 million 200 thousand a year ago.