In the executive pay derby, Victoria’s Secret president and chief executive officer Sharen Turney pulled ahead of her boss, Leslie Wexner, and Gap Inc.’s chairman and ceo Glenn Murphy last year.
Turney’s compensation rose 167 percent to $25.6 million, which included a $1.4 million salary, cash incentive pay of $2.4 million and stock and option awards valued at a total of $20.9 million. She might never realize the stated value of stock compensation given vesting schedules and share price fluctuations.
Victoria’s Secret’s comparable-store sales rose 7 percent last year on top of a 14 percent rise in 2011, when Turney’s pay of $9.6 million made her the fourth-highest-paid women in the U.S. fashion industry, according to WWD’s tally.
Wexner, chairman and ceo of the brand’s parent company, L Brands Inc., the former Limited Brands, saw his 2012 compensation hold steady at $19.2 million. Wexner’s compensation included $1.9 million in salary, $5 million in cash incentive pay and stock and option awards valued at $11.3 million.
“I’ve struggled my whole life to find a bathing suit that fits me that doesn’t look like a maternity bra. I’m proud of the line because it’s an accurate representation of me rather than me putting on someone else’s clothes,” says @atlantabean of her swimwear collaboration with @piaarrobio, LPA X ATL. The two decided on a swimwear collab and increased the industry standard size for the pieces. Read more about the line — and our interview with de Cadenet Taylor and Arrobio — on WWD.com #wwdfashion
Exclusive: Cate Blanchett has been named the first global beauty ambassador for @armanibeauty. Blanchett has been the face of the brand’s Sì fragrance franchise since 2013, and is now representing all of the label’s beauty categories including makeup and skin care. #wwdbeauty (📷: @zefashioninsider)
“From concept to creation, my goal was to create beautiful pieces, with a variety of sizes, all at affordable prices,” said @joansmalls of the swimwear and intimate apparel she designed for @smartandsexysocial. The collection includes neon laced bras, sheer bodysuits and swimwear separates. The intimates collection will launch in July, while the swimwear collection will be available for purchase on Tuesday at select @walmart stores, walmart.com and smartandsexy.com. #wwdfashion