After more than 10 years in business, Victoria’s Secret has announced that it will be discontinuing its flagship store location, located on the prominent northeast corner of the intersection of Robson and Burrard streets in downtown Vancouver.
The store at 750 Burrard Street closed permanently last weekend, and work is already well underway to dismantle furniture and move items.
The lingerie and women’s clothing store announced that it plans to reopen at the nearby CF Pacific Center shopping mall in the coming months. The size of this alternative location, which will serve downtown Vancouver, was not immediately known.
When Victoria’s Secret opened to much fanfare in August 2013, it was the chain’s second-largest international store at the time, spanning more than 35,000 square feet, including the brand’s pink basement floor. It spanned two floors of the building.
Effective January 16, 2024, Victoria’s Secret at 750 Burrard Street in Vancouver will close. (Darcy Matheson/Daily Hive)
Effective January 16, 2024, Victoria’s Secret at 750 Burrard Street in Vancouver will close. (Darcy Matheson/Daily Hive)
Earlier this month, anonymous sources also told Daily Hive Urbanize that the company had decided not to renew the lease on the site at the end of 2023.
Daily Hive Urbanized has reached out to Victoria’s Secret for comment on its decision to close stores and locate new malls.
Victoria’s Secret’s stock price has been steadily declining since 2021, when the company spun off as a publicly traded company separate from L Brands, now known as Bath & Body Works. The company closed approximately 250 stores in 2020 and another 50 in 2021. According to its latest quarterly financial report, for the third quarter ending October 2023, the company reported a net loss of $71 million and net sales in the Northern region. U.S. stores were down 11% compared to the same period in 2022.
The closure of Victoria’s Secret’s flagship store means there will be a new big retail vacancy in downtown Vancouver, but it will also give the new retailer the opportunity to occupy a very prime location.
As of January 5, 2024, the Victoria’s Secret flagship store is located at 750 Burrard Street, Vancouver. (Kenneth Chan/Daily Hive)
As of January 5, 2024, the Victoria’s Secret flagship store is located at 750 Burrard Street, Vancouver. (Kenneth Chan/Daily Hive)
As of January 5, 2024, the Victoria’s Secret flagship store is located at 750 Burrard Street, Vancouver. (Kenneth Chan/Daily Hive)
Built in 1957, this six-storey building is a Class A heritage building and was originally used as the central branch of the Vancouver Public Library before moving to Library Square in 1995.
Virgin Megastore took over the lower floor space between 1996 and 2005 until it was replaced by HMV, which closed in 2012. The building briefly housed Planet Hollywood Restaurant from 1997 to 1999.
The upper floors of the building are currently used as offices and studios for Bell Media, including CTV Vancouver.
