Victoria’s Secret publishes first ESG report

Lingerie giant Victoria’s Secret has published its first-ever environmental, social and governance (ESG) report outlining the steps the company has made in these areas so far and what it needs to continue to work on.

In an opening statement, CEO Martin Waters said the company was continuing its “journey” of improving its relationship with its stakeholders through the creation of a respectful workplace. The report, Waters added, was the next stage of this mission, as it looks to continue to embed diversity, equity and inclusion (DEI) into all aspects of the business.

Waters continued: “This first-ever ESG report for our company isn’t about declaring that we have it all figured out — quite the opposite. It’s an acknowledgement of the work that lies ahead of us, a transparent look into where we are today and a nod to where we’re headed.”

Looking into its workforce at a glance, the company’s report found that women made up the vast majority of associates in all levels, including 59 percent director and above roles, 86 percent of its board and 95 percent of in-store associates. Ultimately, women consisted of 87 percent of the company’s overall workforce.

“A transparent look into where we are today…”

Meanwhile, the report further highlighted the percentage of people of colour, which represented 60 percent of the workforce in total. While 65 percent made up in-store associates and 71 percent made up distribution centre employees, only 16 percent held director-and-above positions - eight percent of which were women of colour. Around 43 percent of the company’s board of directors were additionally people of colour.

Responding to the figures, the company said it was committed to retaining, advancing and attracting more diverse associates through new partnerships, leadership development programmes and evolving its recruitment process.

The report also covered sustainability milestones the brand has worked towards, including the sourcing of recycled materials which now makes up 24 percent of its polyester supply and 11 percent of polyamide. Referencing its supply chain, the company said: “We are assessing the environmental performance of facilities across our value chain to establish our baseline in order to set a formal science-based greenhouse gas reduction target.”

Furthermore, the report spoke on multiple community-centred and philanthropic moves adopted recently by Victoria’s Secret, including programmes supporting its associates, safer working practices for its photoshoots, support for mental wellbeing organisations and stating its commitment to contributing 50 million dollars over the next five years to other causes.