Victoria’s Secret expanding in Canada

MONTREAL — The owner of lingerie powerhouse Victoria’s Secret says it plans to more than triple the division’s Canadian retail sales to over $1-billion within four years.

“This is a growth story,” said Joanne Nemeroff, president of the new division Limited Brands Inc., which will oversee and support La Senza, Bath and Body Works, Victoria’s Secret and Victoria’s Secret Pink in Canada.

Ms. Nemeroff also remains at the helm of lingerie retailer La Senza, which Ohio-based Limited Brands acquired in 2006.

The new division creates 600 retail jobs for stores to open this year, including 30 new Bath and Body Works shops as well as a 15,000-square-foot Victoria’s Secret shop opening in Edmonton this August, Ms. Nemeroff said.

“We expect to have lines of people waiting around the block (for the Victoria’s Secret opening),” said Martin Waters, president of Limited’s international division.

Ms. Nemeroff acknowledged that Victoria’s Secret’s arrival might initially erode La Senza’s market share, but both she and Mr. Waters believe Canada’s lingerie market is large enough for both players.

“The opportunity to expand the market in bras is enormous.”

As part of the creation of the new division, La Senza’s creative and merchandising functions will relocate to Limited headquarters in Columbus, Ohio.

Limited Brands Canada, including La Senza’s financial, legal, human resources, distribution, technology and other key operations – will be headquartered at the company’s head offices in the West Island.