An Australian billionaire has made a bid to secure a spot on the board of Victoria’s Secret and called for the lingerie giant’s chair to step down.

Brett Blundy - who made his billions through underwear, jewellery and music stores alongside property investments - and his private investment company BBRC already own a 13 per cent stake in the company but are seeking further influence.

It comes as Victoria’s Secret has fallen from the dominance it once held in the 1990s and early 2000s.

Falling sales led the company’s former owner L Brands to spin the retailer out as its own business in 2021, with Mr Blundy soon purchasing a stake.

The company confirmed the bid from Mr Blundy and noted the large extent of his “demand”, which includes chairwoman Donna James' removal.

“Members of the Board

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