Known for its picture-perfect models with wings, lingerie, fragrances, and signature bras. Victoria’s Secret the American lingerie empire is bringing back its fashion show, after allegations of ties with sex offenders, lack of diversity in its casting, and out-of-touch marketing techniques that lead to the company crumbling down in 2019 and forced to shut down its famous fashion show.
It’s now time for the brand to reboot itself, following new marketing tactics, and rebranding towards more inclusive female-empowered casting with the message sent through a group of models, athletes, and activists within Victoria’s Secret. According to fashionista, the inclusivity will include more alternatives to the brand’s famous Angels, which somehow made me puzzle how that’s going to work because Victoria’s Secret is solely known for its Angels in sexy lingerie, maybe more ethnic diversity, and inclusion of curvy models and of course, not forgetting the older models.
Timothy Johnson the brand’s CFO said “We’re going to continue to lean into the marketing spend to invest in the business, both at top-of-funnel and also to support the new version of our fashion show, which is to come later this year,” he continued “At VS&Co, we are always innovating and ideating in all spheres of the business to continue to put our customer at the center of all we do and reinforce our commitment to championing women’s voices and their unique perspectives, As we’ve previously shared, our new brand projection and mission will continue to be our guiding principle. This will lead us into new spaces like reclaiming one of our best marketing and entertainment properties to date and turning it on its head to reflect who we are today. We’re excited to share more later this year.”
All these were said during the brand’s earnings call, with an effort to see a turnaround in the brand’s finances, and plans to refresh the ‘Pink’ brand, Martin Walters, CEO of Victoria’s Secret also added; “We believe we are two years into a five-year journey in the turnaround of our business, and we have a clear road map to be the world’s leading fashion retailer of intimate apparel. We have completely scrubbed all aspects of the business, and we’ve edited out things that we think don’t fit.”
Victoria’s Secret remains the only leading lingerie company in its earnings compared to its competitors, as of 2022 the total earnings of the brand stood at $6.344 billion, and it’s been predicted to rise in the mid-single digit range this year.