Sharen Jester Turney has resurfaced with a new gig. The former Victoria’s Secret chief executive officer is joining Lisbon-based DK Retail Consulting as a special adviser — her first post since leaving the $7.7 billion innerwear brand in February 2006.
DK Retail, in conjunction with Japonica Partners, has a mandate to find investments in the retail sector, including in the fashion and luxury spaces. Jester Turney will help to assess opportunities across those areas. Investments could include everything from a minority stake in a start-up, to positions in multinational corporations.
“I’ll be looking at “a very wide range of investment alternatives, from start-ups to mature operations,” Jester Turney said. “There are a very large number of investment situations under research by DK Retail and Japonica Partners that are potential candidates. We’ll be very careful in our analysis.”
DK Retail and Japonica’s investment scope has no geographic boundaries. “The retail market is increasingly global,” said Jester Turney, who led Victoria’s Secret as ceo for 10 years. “A successful investment for DK Retail and Japonica must have the potential [to succeed] in the U.S., Latin America, Europe and Asia. As for best practices in terms of retail, there are bright spots in all of the four regions that we’re researching most carefully.”
Jester Turney said the retail focus of the project is a combination of “classic value investing, rejuvenation management and capitalizing on the disruptive opportunities offered with innovation, especially technology.”
She said she’s looking forward to her new role because the retail industry is in the throes of disruption, which will hopefully lead to undiscovered opportunities. DK Retail, in conjunction with Japonica Partners, has a mandate to find investments in the retail sector, including in the fashion and luxury spaces.
The partnership plans to take full advantage of the changes roiling the retail industry. “DK Retail and Japonica have sought, and will continue to seek investments where major disruptive changes are confounding the current investment landscape,” Jester Turney said. “Their research to date confirms that the retail landscape will change even more dramatically and rapidly in the years ahead. Only the most progressive and well-informed will thrive. Quality research is the foundation of DK Retail and Japonica’s investment approach and one of the partnership’s greatest competitive advantages.”
Leslie H. Wexner, chairman and ceo of L Brands Inc., assumed leadership of Victoria’s Secret after Jester Turney resigned. “We’re very grateful to Sharen for her leadership and all she’s accomplished,” Wexner said at the time. “Victoria’s Secret sales have increased more than 70 percent…and profit has increased substantially during her years as ceo.”
Jester Turney, who was one of the most highly-paid fashion ceos, was compensated $44.3 million for the years 2012 to 2015, however, $26.5 million of that came in the form of stock awards. She left Victoria’s Secret on a high note, posting “a record fourth quarter.”
Daniela Homero, managing director of DK Retail, lauded Turney and said Jester Turney has “the potential to significantly create value with DK Retail’s investments and our projects.”