Victoria’s Secret’s Hong Kong flagship store has suddenly closed. According to reports, all of the employees were laid off last night (June 24) and signs were placed on the entrance of the store which announced the closure of the store.
The American lingerie, clothing, and beauty retailer opened two years ago and the brand’s four-storey flagship featured a whole level dedicated exclusively for its brand Pink and a floor dedicated to high-end products, complete with the city’s most luxurious fitting rooms.
Limited Brands was paying $903,000 a month for the space, which took nearly a year to fit out and signed a 10-year lease in 2017 which was meant to be in place until August 2027. The latest move would mean that Limited Brands would reportedly face a bill for $77 million for terminating the contract early.
