• by Sarah Mahoney , Yesterday

Victoria's Secret -- deep in a daunting transformation effort and squaring off against unhappy investors -- is signaling exactly what it wants the brand to stand for. The new ticker symbol says it all: VSXY.

“VSXY is a marker of who we are today, a company standing fully in our identity and committed to inspiring confidence, sparking joy and celebrating sexy in all its forms," said Hillary Super, CEO of Victoria’s Secret & Co., in the announcement.

And while the definition of sexy varies, “our role is to listen closely then translate what we hear into products, stories, and experiences that help her feel seen, supported and powerful in her own skin.”

Super acknowledges that the brand itself has always been sexy. What this change reflects is the way the company is letting customers own the word. Rather than telling women what sexy should be, she says the company is “reflecting it back to them in a way that feels authentic, expansive and modern.”

The announcement comes as BBRC International PTE Limited, an investor group owning 13% of the Reynoldsburg, Ohio-based retailer, is agitating for an overhaul of the corporate board, urging investors to vote against Donna James as chair. The group claims that James, a 25-year board member, has shown “slow and poor decision-making,” impacting the company’s performance.

To make its case, the group compares Victoria’s Secret's financial results over the last five years to rival Aerie, the fast-growing intimates chain owned by AEO. Aerie’s sales have climbed 40% in that period, while Victoria’s Secret sales fell as much as 10% in 2023, and are still below 2021 levels.

But changes implemented by Super, who joined as CEO in 2024, are already paying off. In the fourth quarter, comparable store sales rose 8%, and for the full year, they climbed 5%.

While the group acknowledges that Super’s turnaround plans are gaining traction, “a few quarters of recovery do not erase the mistakes made under Ms. James’ oversight, nor do they justify keeping the leader who made a turnaround necessary.”

Victoria’s Secret has called the effort a distraction and says it threatens to disrupt the company’s momentum without offering a compelling case for change.