Victoria's Secret & Co.

Victoria's Secret & Co. (NYSE: VSCO) operates as a specialty retailer of women's intimates, apparel, and beauty products through its portfolio of market-leading brands. The company maintains a global presence with approximately 860 company-operated stores across the United States, Canada, and China, complemented by more than 560 partner-operated stores in approximately 70 countries. The company serves customers through multiple channels including physical retail locations, e-commerce platforms at www.VictoriasSecret.com, www.PINK.com, www.AdoreMe.com, and www.DailyLook.com, as well as third-party digital marketplaces.

The company operates through two primary distribution channels: North American Stores, which generated 54 percent of net sales, and Digital, which accounted for 31 percent of net sales. International operations, including franchise and license arrangements, contributed 15 percent of total revenue. The company's brand portfolio includes Victoria's Secret, a global leader in women's intimate apparel known for innovative, fashion-inspired collections; PINK, a playful lifestyle brand targeting young women; and Adore Me, a direct-to-consumer lingerie brand serving women across various budgets and life stages.

As of January 31, 2026, Victoria's Secret & Co. employed approximately 33,000 associates, with roughly 77 percent working in retail stores, 9 percent in distribution centers, and the remainder in corporate offices. The company maintains significant operational infrastructure including distribution centers primarily located in the Columbus, Ohio area and third-party facilities throughout North America and Europe.

The company's competitive positioning derives from its powerful brand equity, unmatched scale in the intimates category, and commitment to high-quality, innovative products. The business model emphasizes agile supply chain management with sourcing expertise in the United States and Southeast Asia, enabling rapid product development and market responsiveness. Victoria's Secret & Co. operates as a single segment designed to serve customers seamlessly across stores and digital channels worldwide, with strategic focus on North American market dominance while expanding international presence through franchise, license, and joint venture arrangements.