Victoria’s Secret bringing in Hillary Super from Savage X Fenty as its new CEO

Victoria’s Secret is making a shakeup at the top, naming Savage X Fenty’s Hillary Super as its new CEO.

Super will take over from Martin Waters, who became CEO of Victoria’s Secret in 2021, effective September 9. He will serve as an advisor through the end of the month to help with the transition, while Chief Financial and Administrative Officer Timothy Johnson will serve as interim CEO.

Plans for a Victoria’s Secret spin-off were announced in 2021 following a deal to sell the lingerie, nightwear, beauty and apparel company to a private equity firm Sycamore Partners failed due to the corona pandemic.

The chain has struggled with sagging sales and has worked to reinvent fashion and redesign stores. Super has been CEO of Savage X Fenty since June 2023. The lingerie company, co-founded by megastar and business mogul Rihanna, appeals to a younger consumer, and Super’s expertise in running the business could help Victoria’s Secret better tap into that prized demographic.

Shares rose more than 15% before the market opened.

Prior to joining Savage X Fenty, Super was the global CEO of Anthropologie Group, an Urban Outfitters Company.

Victoria’s Secret Chair Donna James said in a statement Wednesday that Super will be tasked with accelerating the growth of the company’s core businesses in North America.

“She understands vertically integrated retail brands and has an intuitive understanding of the consumer landscape, informed by customer insights that are critical to delivering consistent performance in this industry and the ever-accelerating fashion and economic cycles,” said James.