| Reporting Period | Filing Date | Average Time to Pay (days) | Paid within 30 days | Paid 31-60 days | Paid after 60 days | Not Paid within Terms |
|---|---|---|---|---|---|---|
| 02 Feb 2020 - 01 Aug 2020 | 17 Aug 2020 | 45 | 37% | 45% | 18% | 27% |
| 04 Aug 2019 - 01 Feb 2020 | 20 Feb 2020 | 45 | 35% | 57% | 8% | 23% |
| 04 Aug 2018 - 02 Feb 2019 | 21 Feb 2019 | 43 | 31% | 60% | 9% | 21% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Standard contractual terms for goods and services is 45 calendar days. Real Estate Landlords are paid in advance of when rent is due or when the invoice is received. Other vendors are paid based on their contractual terms, between 0 and 45 calendar days. Victoria’s Secret UK Limited does not make payments before they are due (with the exception of real estate landlords). Payments are made once per week.
Were there any changes to the standard payment terms in the reporting period?
Due to Covid-19, standard payment terms were temporarily extended to 120 days.
Any other information about payment terms
Robert James Harding and Daniel Francis Butters were appointed Joint Administrators of Victoria's Secret UK Limited on 5 June 2020. The affairs, business and property of the Company are managed by the Joint Administrators.
Maximum contractual payment period agreed
45
The main point of contact for settling disputes are Victoria’s Secret UK Limited associates who are directly responsible for procuring and working with the vendor. These associates will reach out to the vendor for any questions or disputes.
Has this business signed up to a code of conduct or standards on payment practices?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
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Does this business offer e-invoicing in relation to qualifying contracts?
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
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Does this business offer supply chain finance?
This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.
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Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?
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During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
VICTORIA'S SECRET UK LIMITED is a well-known fashion and beauty retailer, specializing in women's lingerie, sleepwear, and beauty products. The company was founded in 1977 and has since become a prominent global brand with a presence in over 50 countries.
The company's sustainability program focuses on ethical sourcing of materials, reducing waste, and promoting diversity and inclusion within their workforce. They have also implemented initiatives to reduce their carbon footprint and promote green energy usage. VICTORIA'S SECRET UK LIMITED has also committed to using only sustainably sourced cotton in their products by 2023.
Their products include a wide range of lingerie, sleepwear, and beauty products, catering to a diverse range of body types and sizes. The company is known for its luxurious and high-quality products, with a focus on comfort and style.
Key people in VICTORIA'S SECRET UK LIMITED include CEO Martin Waters and CFO Stuart Burgdoerfer. They lead the company's operations and strategic planning, ensuring the brand's continued success in the UK market.
Contact information for VICTORIA'S SECRET UK LIMITED can be found on their website, which is www.victoriassecret.com. Their registered office address is 3rd Floor, 1 New Change, London, EC4M 9AF. Customers can also reach them through their customer service hotline, which is available on their website.
In summary, VICTORIA'S SECRET UK LIMITED is a renowned fashion and beauty retailer, known for its sustainability efforts, diverse range of products, and strong leadership. Their commitment to ethical practices and high-quality products has made them a popular choice for women in the UK.