Billionaire Calzedonia founder takes on Victoria’s Secret

Bloomberg

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Sandro Veronesi, the billionaire whose Calzedonia Group sold 1.8 billion euros ($2.5 billion) worth of intimate apparel and clothing last year, is planning to challenge Victoria’s Secret on its home turf by opening his first U.S. stores.
“We will start maybe from New York, which is a fashion city, and then we will expand in the major cities,” the Italian said in a Bloomberg Television interview at Verona’s Gran Guardia Palace. “There is a dominant competitor in the United States, but that is maybe a reason why also women would like to have an alternative.”

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