Searching for a New Angel: Victoria’s Secret Owner May Sell the Brand

Fashion
Read min

30.01.2020

For many years, Victoria’s Secret has been the largest retailer in the United States. Through its annual fashion shows, the brand has played an important role in determining what is considered to be stylish and sexy.

However, now Victoria’s Secret needs a different kind of angel. On Wednesday, billionaire Leslie Wexner, the founder of the retail group, was in discussions to step aside as chief executive. At the same time, the company is exploring alternatives for Victoria’s Secret — its once prized and now struggling lingerie chain — including a full or partial sale. The company has been in crisis for several years. Over the past five years, brand capitalization has declined fivefold, while last year its shares fell by almost a third. The brand reported disappointing holiday sales, and cut its profit guidance, with same-store sales at Victoria’s Secret falling 12% in November and December. In addition, Victoria’s Secret’s marketing strategy has been criticized more than once. A huge scandal due to refusal to work with plus-size and transgender models, cancellation of the annual show - it seems that the brand is on a bad streak. Brand policy certainly needs to be radically updated. Victoria’s Secret is necessary to more closely follow changing consumer tastes, emphasizing inclusivity and different body shapes.

 

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