Victoria's Secret to bring sexy back in a bid to return to sales growth
Victoria's Secret is set to inject the sex back into its brand after its more inclusive, feminist repositioning failed to reverse declining sales.
The US lingerie giant has projected revenue for 2023 at $6.2 billion (£5.1 billion), which would be 5% down 2022 – and a significant drop on the $7.5 billion (£6.2 billion) revenue it reported in 2020.
Brand president Greg Unis told CNN that the brand needed to return to its sexy roots to drive growth but it did not have to abandon the "inclusive" message. "Sexiness can celebrate the diverse experiences of our customers and that's what we're focused on," Unis said.
Victoria's Secret in Liverpool
Victoria's Secret was known for its extravagant runway shows in the 2000s and 2010s featuring "Angels" (i.e. impossibly glamorous supermodels such as Heidi Klum, Adriana Lima and Gisele Bündchen) wearing its lingerie while sporting vast angel wings. The shows were televised and attracted high profile celebrities in the audience, while stars such as Taylor Swift, Rihanna and Justin Timberlake are among the many big names to have performed at the event.
However in the #metoo era, the overtly sexualised models and the high octane glamour felt out of step and the brand dropped the show. Parent company L Brands spun Victoria's Secret out into its own entity in 2021, having established a JV with Next in the UK in 2020 to run its retail stores and e-commerce here.
A more inclusive image was unveiled and a new selection of brand ambassadors were signed up including footballer Megan Rapinoe and trans model Valentina Sampaio. Last year it unveiled its first male ambassador, the actor and producer Darren Barnet.
However, while the repositioning won positive feedback on social media and beyond, it did not translate into growing sales.
A more recent campaign to promote its "Icon" push up bra featured high-profile models some original "Angels", Emily Ratajkowski, Naomi Campbell, Gisele Bündchen, Adriana Lima and Candice Swanepoel. However, while the Angels were back, the images were low key and tasteful and bore little resemblance to the high octane images of the past.
Gisele Bündchen for Victoria's Secret Icon campaign | Photo credit: Mikael Jansson
Instead of a fashion show, the brand staged The Tour this year to champion women's voices, perspectives and experiences. The film, which was live streamed on Amazon Prime Video, set out to take audiences on a journey through the behind-the-scenes craft and intimate stories of "the VS20" – a group of 20 innovative global creatives who will conceive four fashion curations from the cities of Bogota, Lagos, London and Tokyo.
As well as bringing back the sexiness to drive growth, Victoria's Secret is branding out beyond lingerie and sleepwear into categories such as active wear and swimwear, two areas which it had previously exited. In addition it is promising revamped stores, which are lighter, brighter and more welcoming that its stores of the past.
VS & PINK Adaptive. Credit: Yulia Gorbachenk
But proof that Unis was correct in his assertion that it will not abandon inclusivity came this week with its latest launch VS & PINK Adaptive, its first-ever collections of intimates for women with disabilities. With the support of GAMUT Management (GAMUT), the consulting and talent management company working with and for people with disabilities, VS & PINK Adaptive was developed by incorporating direct feedback from people with disabilities throughout every step, including wear testing, focus groups, feedback panels and more.
Victoria's Secret set the collection was "reflective of the company's mission to celebrate women of all body types, sizes and abilities".
Main image: Victoria's Secret Love Cloud Collection
