Specialty Fashion Group has pulled the plug on Victoria's Secret sister brand La Senza.
The company has announced it will no longer licence for La Senza in Australia over the course of the next six months.
La Senza's online store will trade for the remainder of fiscal 2013, while 19 stores across the country will either shut or convert to group brands Millers, Katies, Crossroads and City Chic.
“The seasonal and demographic complexities of the La Senza product
being developed for the North American market have not translated and
proved challenging in the Australian market,” Specialty Fashion Group said in a statement.
“Higher investment returns are expected from the stores that are
converted to the Group’s other proprietary brands."
The company will not face any penalties for cancelling the licence, with minimal impact expected on earnings results.