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TheMoodieReport.com: Jill Granoff departs Victoria’s Secret Beauty – 04/04/06
Source: ©The Moodie Report
By Rebecca Mann
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US. Jill Granoff, President and Chief Operating Officer of Victoria's Secret Beauty (VSB), has resigned from the business to seek new challenges and opportunities. She will remain with VSB until 11 April to ensure a smooth transition of her responsibilities.

Upon Granoff’s departure President and General Merchandise Manager Christine Beauchamp will retain leadership responsibilities for VSB. In addition Mike Nicholson, currently Senior Vice President and Chief Financial Officer, will be promoted to Executive Vice President and Chief Operating Officer and will serve as co-leader for the business with Beauchamp.

VSB entered the travel retail channel in the second half of 2004 in conjunction with World Duty Free. The move also represented VSB’s first foray into the international retail arena. The brand extended its travel retail presence last September, via a partnership with Brasif Duty Free.

Granoff joined VSB in 1999 and during her tenure contributed significantly to the growth and profitability of the brand in an increasingly competitive business environment. Her key accomplishments include:

– Doubling sales from less than US$500 million to nearly US$1 billion
– Repositioning the brand to become a competitive force in the beauty industry
– Elevating Dream Angels Heavenly to its current status as the number one fragrance in the US
– Launching the VSB brand into global markets

Leslie H. Wexner, Chairman and CEO of parent company Limited Brands, commented: "Jill's extensive background in the beauty business and her strong and successful leadership at Victoria's Secret Beauty have served Limited Brands well during a time of unprecedented change and expansion in the Beauty and Personal Care group.

“Jill played a key role in repositioning VSB into a competitive force in the industry and doubling sales from US$500 million to nearly US$1 billion.

Limited Brands Vice Chairman and COO Len Schlesinger added: "Jill is an extremely talented businessperson highly regarded both within Limited Brands and, more broadly, across the industry. In addition, she's an inspirational leader and a true business partner. Her leadership and capabilities will be greatly missed."

Granoff commented: "I am extremely proud of the VSB team and all that we have accomplished together over the last seven years. With the leadership and depth of talent we have in place throughout [the company], I have no doubt that the business will continue to thrive. I am now looking forward to finding the next great opportunity."