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Victoria's Secret started today at $54 per share. It closed at $80 per share. That is a 48% jump in share price. That is the biggest one-day jump in the company's history, and an all-time high its stock price.
Just to show that they mean business, Victoria's Secret changed its ticker symbol this morning from VSCO (Victoria's Secret Company) to VSXY (V-Sexy).
What is going on? Victoria's Secret has a new CEO, Hillary Super. She used to be in charge of Rihanna's fashion brand, Savage x Fenty. According to an article in Barrons Hillary Super has relaunched the Victoria's Secret fashion show and has embraced a strong presence on TikTok. Victoria's Secret's stock price is up for times what it was two years ago when Hillary Super took over.
"Our customer responded strongly to our product innovation, emotionally resonant storytelling, and distinct brand projection, driving double-digit growth in new customer acquisition, increased regular-price selling, and broad-based strength across categories, channels, and geographies," Super said according to the article in Barrons. "When we win bras, we create a halo across the entire VS brand," Super said, adding that Victoria's Secret is "really in its groove at the intersection of innovation, technical expertise, and fashion authority."
What does all of that mean? It means that Victoria's Secret is generating hype. Don't expect to find anything on sale when you walk into Victoria's Secret. Victoria's Secret's hype is what pulled you into the store, and Victoria's Secret's hype is what's going to make you pay full price for that bra.
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