While the rest of the retail world is faltering to online sales, Victoria Secret’s challenge is the ever trending bralette. For those of us not up in the know, the bralette is a casual bra that can be seen as a shirt or bra.
“With a garment like a bralette, which is made essentially like apparel, it’s easy for somebody who’s in the apparel business to sell them,” Wexner (Retail Genius and Owner of L Brands)
VS was not only late to the party, when they arrived they had competition from beyond the lingerie retailers where they already ruled the market. In efforts to keep up profits they decided to trim and cut in some places, such as:
- Dropping, wait what, Uggs?! Okay somehow I had missed a memo somewhere, why were they even merchandising Uggs to begin with?!
“why are we selling Uggs? Does that really tie to the Victoria’s Secret brand?” Burgdoerfer (CFO of L Brands)
- More tragically they have caught up with the times of modern technology and cut the iconic Victoria Secret catalog; the essence of every prepubescent boy’s dream.
- Their 50 million dollar swimwear line is no more, a logical move, they are not a pioneer in that market.
- Over the holidays they announced that they would be dropping the free panties promo. I have mixed feelings on this one. I understand why mind you, stop giving away free stuff. I also know that most of my girlfriends don’t even give a visit to VS until that little black voucher arrives in the mail. These same girlfriends end up dropping still about 70 to 100 bucks in more panties, b/c really, how many people are going to leave with just the one?
All these moves are logical, and most likely vital. It is said that Wexner even commented that perhaps they conducted them a couple of years too late. All in all though the company is still reporting growth and profits, though not in as large of sums as history has proven through the years, this is just smart business, preparing themselves for what could come.
Shopgirl Must Know:
- What will you miss most: swimwear, catalogs, or free panties? ok ok…or perhaps the Uggs if that’s your thing.
- Do you think the free panties will cause more of a positive or negative backlash on the company?
- Where do you buy your bralettes?
This Post is A Part of the #AtoZChallenge
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