Victoria's Secret Welcomes New CEO from Rival, Stock Soars 16.41% Warren Buffett Makes First Beauty Retail Bet with Ulta, Shares Jump 14% Swiss Brand On Running Sees Explosive 73.7% Growth in Asia-Pacific Sales

Victoria's Secret has demonstrated its commitment to transformation by appointing Hillary Super as the new CEO, signaling a new era for the brand. Super, formerly the CEO of rival brand Savage X Fenty, will assume her role on September 9. The announcement of her appointment led to a noteworthy 16.41% rise in Victoria's Secret stock, reflecting investor optimism about her potential impact. Under Super's leadership, Savage X Fenty underwent a significant rebranding, and she is expected to drive Victoria's Secret towards greater inclusivity and diversity. The brand is also set to bring back its iconic fashion show this fall, which aligns with its ongoing transformation efforts.
Meanwhile, in a notable move in the beauty sector, Warren Buffett's Berkshire Hathaway invested in Ulta Beauty. This marks Buffett's first foray into a beauty retailer, which has sparked considerable interest in the future of the beauty industry. Ulta Beauty's stock saw a 14% increase after hours on the day the news was released. Despite the company's Year-to-Date decline of 32%, analysts believe that Ulta's valuation presented an attractive investment opportunity, reflected in its current low price-earnings ratio.
Furthermore, Swiss sportswear brand On has reported staggering success in the Asia-Pacific region. On's Q2 sales reached a record high, with net sales growing by 27.8% to 567.7 million Swiss Francs, and net profit jumping to 30.8 million Swiss Francs. Regional sales in the Asia-Pacific market surged 73.7%, underpinning the brand's solid position in the competitive running shoe market. With both revenue and profit growth, On has revised its full-year forecast, projecting continued strong performance amid increasing demand for its innovative products.
In summary, Victoria’s Secret’s strategic move to hire a seasoned executive from a competitor, as well as the impressive market responses to both Warren Buffett's investment in Ulta Beauty and On Running's explosive growth in Asia, underscore a dynamic and evolving landscape in the fashion and beauty industries. Investors and market watchers will be keenly observing how these developments unfold as companies strive to adapt and thrive in a competitive environment.