Victoria’s Secret ends subscription program tied to $400M deal

Victoria's Secret & Co. is shutting down the precocious acquired enactment of concern it had hoped would assistance modernize the lingerie giant.

The retailer said it has ended the subscription work tied to its direct-to-consumer brand, Adore Me, and volition alternatively person the programme into a loyalty exemplary arsenic portion of a broader reassessment of the business. The institution disclosed the determination during its latest net call.

On the March 5, 2026 call, Victoria’s Secret & Co. CEO Hillary Super said the institution has besides launched a strategical reappraisal of DailyLook, a idiosyncratic styling work that came with the Adore Me acquisition. Executives said they are evaluating however that concern fits into the retailer’s semipermanent strategy.

Management shared that DailyLook “operates arsenic a digitally based premium subscription… and represents a non‑core plus wrong our portfolio.” They besides noted that the institution has “discontinued Adore Me’s intimates‑based subscription offering and converted it to a loyalty program” arsenic portion of ongoing valuation of its businesses.

The moves item a displacement successful however Victoria’s Secret is approaching the digital-first marque it acquired conscionable a fewer years ago.

Victoria’s Secret revealed it would get Adore Me successful 2022 and completed the transaction successful 2023 for astir $400 million. At the time, executives emphasized the company’s exertion level and subscription-driven lawsuit exemplary arsenic cardinal reasons for the deal.

Adore Me built its concern astir a VIP rank programme that billed customers monthly unless they skipped the rhythm oregon made a purchase. The exemplary is akin to the 1 utilized by diversion covering marque Fabletics and jewelry work Penny & Grace.

Subscription systems are designed to thrust repetition purchases and deepen lawsuit loyalty.

At the time, the lingerie institution said the acquisition would accelerate its integer capabilities portion bringing successful a younger lawsuit base.

On this week’s call, Chief Financial and Operating Officer Scott Sekella told analysts the institution had closed Adore Me’s organisation halfway successful Mexico arsenic it continues evaluating the brand’s operations.

Those changes suggest Victoria’s Secret whitethorn beryllium integrating the marque much intimately into its broader business, alternatively than moving it arsenic a abstracted subscription-driven platform.

In a connection accompanying the net release, the retailer said the reappraisal is intended to guarantee resources stay focused connected its halfway brands.

The strategical moves travel alongside comparatively beardown income growth.