In a shift that reflects a broader trend among major corporations, Victoria’s Secret is rebranding its diversity, equity, and inclusion (DEI) initiatives to focus on “inclusion and belonging,” according to a company memo obtained by Forbes. This move, aligning with recent political winds, marks the lingerie giant’s response to increasing pressure from conservative forces, including President Donald Trump’s efforts to dismantle DEI measures across the corporate landscape.

The Shift In Focus: A Changing Corporate Climate

As of March 5, Victoria’s Secret is also reconsidering its supplier diversity goals, while halting its previously committed targets for promoting Black employees. These changes are part of a broader reevaluation coming after the company’s intense focus on DEI through the 2020s. This era of investment followed a workplace harassment scandal and a public backlash over its lack of body diversity in advertising.

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The move reflects a wider corporate rethinking, with companies reassessing the role of DEI programs in light of the shifting political environment. Trump’s stance has made it a key issue in his second presidential run, influencing major businesses to reconsider their DEI commitments.

A March Of Corporate Retreats

Victoria’s Secret is far from alone in re-evaluating its DEI initiatives. In February, a string of companies, from financial institutions like Goldman Sachs and State Street to entertainment giants such as Warner Bros. Discovery, made similar moves. These companies, once at the forefront of corporate social responsibility, are now scaling back or rebranding their DEI efforts.

• Goldman Sachs removed DEI language from its annual filings, citing legal developments in the U.S.
• Warner Bros. Discovery renamed its DEI programs to just “inclusion” and halted participation in external diversity surveys.
• State Street, known for its “Fearless Girl” statue, dropped its diversity goals for board representation, aligning with global protocols and local laws.

These are just a few examples of how the political and legal landscape is forcing a reevaluation of corporate DEI efforts.

A Polarized Debate: Businesses Under Pressure

Some companies, like Apple, are attempting to strike a balance, acknowledging the changing legal environment while reaffirming their commitment to diversity. Apple shareholders recently rejected a proposal to eliminate DEI initiatives, but CEO Tim Cook noted that adjustments may be necessary to align with evolving laws.

Meanwhile, Costco and Delta Airlines have firmly rejected calls to abandon DEI, with Costco’s shareholders overwhelmingly voting to continue the company’s commitment to inclusion. Delta’s executive vice president emphasized that diversity remains integral to their business strategy.

The Legal And Political Pushback

Much of this corporate retraction is driven by external pressure from conservative factions, particularly following Trump’s executive orders aimed at curtailing DEI initiatives in federal agencies and private companies with government contracts.

The Department of Justice, under Attorney General Pam Bondi, has led efforts to curb what it calls “dangerous” DEI programs, signaling that the landscape could shift further if more businesses respond to political and legal pressures. This has led to increased scrutiny of companies that continue to maintain robust DEI frameworks, with some industry giants facing backlash for their commitment to diversity goals.

Will Corporate America Return To DEI?

While some companies are halting DEI goals, many others are doubling down, insisting that diversity remains a crucial element of business success. Companies like Deutsche Bank, Cisco, and the NFL are vocal about the ongoing business value of diversity, and Coca-Cola has even warned that abandoning DEI could harm business performance. The question remains whether the tide will fully turn in favor of a post-DEI corporate world or if those businesses that remain committed to diversity will prove that these programs aren’t just a passing trend.

As this debate unfolds, one thing is clear: corporate America is at a crossroads, and the outcome will likely shape the future of DEI programs in the years to come.