Victoria’s Secret unveils new flagship store in Madrid’s Gran Vía, in collaboration with Percassi

Victoria’s Secret has unveiled its new flagship store in Madrid. The store, located at number 38 Gran Vía, is the result of a strategic partnership with Percassi, which also oversees the brand’s franchises in Italy, France, Spain, and Portugal.

“It is with great enthusiasm that we open the new Victoria’s Secret store in Madrid, on the most important street in the country,” said Matteo Morandi, CEO of Percassi Retail. “This city is a cosmopolitan hub of beauty and style and we are excited to bring our iconic brand here to offer the city of Madrid a unique shopping experience, as well as continuing our mission to celebrate women’s beauty and empowerment around the world,” he continued. 

The new location, which opened its doors on Saturday, April 27, employs 35 people and offers a full range of Victoria’s Secret products. This includes the brand’s famed lingerie and sleepwear collections, as well as beauty items like various fragrances and accessories such as handbags, cosmetic cases, and travel kits.

In Spain, Victoria’s Secret now operates around a dozen stores, with other locations in Barcelona, Valencia, Málaga, and Sevilla. Globally, the brand’s retail network spans 70 markets with 1,350 stores, employing 30,000 individuals.

In its most recent quarterly results, announced in November, the company reported higher than expected losses amid increased investments in marketing and technology, although it noted that these efforts were beginning to bear fruit.

Meanwhile, the retail giant Percassi continues to develop and manage store networks for several high-profile brands including Gucci, Saint Laurent, Nike, Armani Exchange, and Garmin. It also owns and operates its own brands such as Kiko Milano—recently partly acquired by investment fund L Catterton—Womo and Bullfrog in cosmetics, Atalanta in sports, and Da30Polenta in food.