Due to popular demand, Victoria’s Secret is bringing back swimwear; Streaming giant Netflix announces that it will not make its movies and TV shows available on Apple’s upcoming video service.
Lingerie chain Victoria’s Secret is reportedly abandoning its feminist makeover of recent years because it hasn’t resulted in business success.
Since the brand decided to move away from its “hypersexualized” image – as BusinessOfFashion.com described it in a recent article – Victoria’s Secret has seen a significant decline in sales.
Therefore, they tried to renew themselves and bring back “sexiness,” as the medium stated in an article that was also published on Tuesday by editorial partner CNN.
Cathaleen Chen reported that the brand’s efforts to promote inclusivity—which included naming LGBTQ professional soccer player and outspoken leftist Megan Rapinoe and a transgender woman as brand ambassadors and ditching the famous “Angels” supermodels—”have been positive Reviews” received online critics [but] never translated into sales.”
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Victoria’s Secret’s shift to “inclusive,” “body-positive” advertising and initiatives failed to win over more customers. (In images via Getty Images / Getty Images)
According to the numbers, the lingerie brand’s forecast sales for 2023 are $6.2 billion, which is 5% less than last year and even less than 2020, when the brand’s sales were $7.5 billion.
The decline in sales at Victoria’s Secret was also a result of the company’s decision to make its board of directors predominantly women.
In 2021, Rapinoe referred to what the brand was before the makeover, claiming it sent a “really harmful” message that was “patriarchal and sexist” and not just about what it means to be sexy, but also what the clothing was trying to achieve through a male lens and through what men wanted.”
“And it was primarily marketed to younger women,” the U.S. women’s soccer star added at the time.
In the fashion business, Chen pointed out that the lingerie company’s attempt to stop the financial burden caused by body-positive marketing was to reintroduce the runway show format and incorporate the sexiness for which the brand had become famous some of their more inclusive initiatives.
After several years of declining sales, Victoria’s Secret is shifting away from prioritizing inclusive branding. (Hugo Hu/Contributor / Fox News)
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She described “Victoria’s Secret: The Tour ’23” as an exhibition that “falls somewhere between the embodiment of male desire from the brand’s Aughts-era heyday and the inclusive utopia promoted by its many disruptors.”
Greg Unis, president of Victoria’s Secret and Pink brands, summed up this new direction for the company, reportedly telling investors, “Sexiness can be inclusive.” He explained, “Sexiness can celebrate the diverse experiences of our customers and that’s what we’re focused on.” “
Chief executive Martin Waters also reportedly admitted that the inclusion initiatives were not profitable for the company, stating: “Despite our best efforts, it has not been enough to prevail.”
(FromL) Filipino model Kelsey Merritt, New Zealand model Maia Cotton, US model Willow Hand, US model Iesha Hodges, Dutch model Myrthe Bolt and Ivorian model Melie Tiacoh walk the runway at the Victoria’s Secret Fashion Show 2018… (Timothy A. Clary/AFP via Getty / Getty Images)
According to BusinessOfFashion, the company’s new goal is to “improve profitability and achieve annual sales of over $7 billion.” To achieve this goal, the brand plans to introduce activewear and swimwear, modernize its existing stores and open 400 new stores outside the US.
Victoria’s Secret did not immediately respond to Fox Business’ request for comment.
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