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Share Name | Share Symbol | Market | Type |
---|---|---|---|
L Brands Inc | NYSE:LB | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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0.00 | 0.00% | 79.92 | 0 | 01:00:00 |
By Khadeeja Safdar
L Brands Inc. said Edward Razek, its longtime chief marketing officer, will step down from his role, as the parent company of Victoria's Secret faces backlash from consumers about the unit's marketing strategy.
Chairman and Chief Executive Leslie Wexner, in an internal memo to staff Monday, said Mr. Razek had told him a few weeks ago about his desire to retire from his role this month. Mr. Wexner said Bob Campbell would replace for Mr. Razek for now, "while we review how to transition Ed's work."
Mr. Razek, who has been with the company since 1983, helped put on the company's fashion show and has been instrumental in pushing the overtly sexy marketing that has become synonymous with the brand. However, in recent years, Victoria's Secret's emphasis on images of busty supermodels and padded bras has alienated customers and invited criticism that the brand is out of touch.
Last year in an interview with Vogue, Mr. Razek said he doesn't think the Victoria's Secret fashion show should include transgender models because it's supposed to be "a fantasy," prompting backlash on social media. He later issued an apology, saying that he "absolutely would cast a transgender model."
Ratings for the show have also declined in recent years. Victoria's Secret said earlier this year it will no longer air the spectacle on network television and would focus this year on developing content and a new kind of event.
(END) Dow Jones Newswires
August 05, 2019 17:10 ET (21:10 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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